Apple Drops $275 Million Into Mobile Ad Biz Quattro?
Posted 01/05/2010 at 7:46am
| by J.R. Bookwalter
It seems that Apple wants a piece of the mobile advertising game. After being outbid for AdMob by Google, word is out that Cuperinto has settled for their competitor instead.
AllThingsDigital’s
Kara Swisher dropped the bombshell last night in her BoomTown column, with “several sources” confirming to her that Apple is now set to announce their acquisition of
Quattro Wireless for $275 million. A formal announcement of the deal could come later today.
The dust has barely settled on Google’s deal to acquire AdMob for a whopping $750 million, which Apple also attempted to nab. It would appear that the Quattro Wireless acquisition is an effort to correct that loss.
Founded only a few years ago, Waltham, Massachusetts-based Quattro Wireless includes automaker Ford, entertainment giant Disney and the National Football League among their many clients. Their business was launched with venture capital money to the tune of $30 million.
With the huge success of Apple’s App Store and competition from the likes of Google with Android Marketplace, the mobile ad space appears to be the next hot frontier. Expect more details on this acquisition as they’re made available.
