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TheStreet Open House

Apple Confirms Buy of Quattro Wireless

Updated from Tuesday, Jan. 5

CUPERTINO Calif. ( TheStreet) -- Apple (AAPL - Get Report) confirmed it has acquired mobile-advertising business Quattro Wireless .

A price wasn't disclosed. The New York Times, citing a person briefed on the deal, said Apple paid close to $300 million for Quattro, which is based in Waltham, Mass.

Writing in a blog on Quattro's Web site, Andy Miller, Apple's vice president of mobile advertising, confirmed the acquisition and said "the offerings and services you receive from Quattro Wireless will not change."

Apple "will continue to operate the Quattro Wireless network across all devices and platforms," Miller wrote on the blog.

Apple's acquisition of Quattro, which focuses on the market to advertise on smartphones, comes close on the heels of Google's (GOG) recent deal to buy AdMob, a Quattro competitor, for $750 million. Apple was reported to have made a bid for AdMob.

Quattro's clients include Ford, Walt Disney and Procter & Gamble.

-- Reported by Joseph Woelfel in New York.

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