Quattro Wireless confirmed rumors that Apple was purchasing it on Tuesday. According to the company, it will continue to serve ads for mobile devices.
"We remain focused on delivering more engaging, relevant and useful ads to mobile devices, and improving the measurement and execution of digital campaigns," commented Andy Miller, Quattro's Vice President of Mobile Advertising. "Together with Apple, we look forward to developing exciting new opportunities in the future that will benefit our customers."
The deal mirrors Google's earlier purchase of AdMob, a company that offers similar services to Quattro Wireless. It also puts Apple in a better position to manage the in-app ads iPhone, iPod touch, and other smartphone owners see.
The company didn't say how much Apple is paying, but earlier rumors set the price tag at about US$275 million.
Apple has not commented on the purchase.