IT-ServicesApple to Purchase Quattro Wireless for $275m.
BoomTown today carries an exclusive report that says Apple is planning to buy mobile ad network Quattro Wireless.
Apple is apparently set to announce that it has acquired Quattro Wireless for more than a quarter of a billion dollars. BoomTown predicts that this announcement could come as early as today, the same day as a scheduled Google event during which the company is expected to announce the much talked about Nexus One.
A couple of months back Google acquired its own mobile ad network, AdMob, for nearly three times the price Apple is paying. In November Google paid $750 million in stock. Google said of the acquisition, "Mobile advertising has enormous potential as a marketing medium тЂ¦ тЂќ While AdMob Founder and CEO, Omar Hamoui said, "I think people underestimate how important ads have been to funding the development of innovative content on the Internet."
We"ll keep you posted on this one but it"s not exactly a stretch to assume that with the success of the iPhone, Apple realizes the enormous potential of mobile advertising.
Read the full scoop on the Apple deal here.