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Apple buys mobile advertising company

2010-01-06 09:29 BJT

SAN FRANCISCO, Jan. 5 (Xinhua) -- U.S. mobile advertising company Quattro Wireless on Tuesday confirmed that it has been bought by Apple Inc., which is seen by analysts as the latest development in the consolidation of mobile advertising market.

"We are thrilled to let you know that Apple has acquired Quattro," Andy Miller, chief executive officer of Quattro and now vice president of mobile advertising at Apple, wrote in a blog posting on the company's website.

Besides the brief confirmation, both Apple and Quattro revealed little details about the deal, including the value of the transaction.

According to All Things Digital, a technology blog affiliated with The Wall Street Journal which broke the news on Monday, Apple paid a price of 275 million U.S. dollars for Quattro.

Headquartered in the U.S. state of Massachusetts, Quattro is focused on ads for mobile websites and for smart phones such as Apple's iPhone. It is a competitor to AdMob, the Silicon Valley mobile ad company that Google Inc. intends to buy for 750 million dollars.

It was reported that Apple had made a bid to acquire AdMob before it announced a purchase agreement with Google in November last year.

Editor: Xiong Qu | Source: Xinhua