Apple acquires its own mobile ad firm to one-up Google
Apple has acquired Quattro Wireless after Google outbid it for rival AdMob in a mobile advertising tit for tat.
Not long after Google announced it had acquired mobile advertising firm AdMob, Apple has announced the acquisition of its own mobile advertising firm, Quattro Wireless. The announcement came today just after All Things D broke the rumor that the deal was imminent. Quattro cofounder and CEO Andrew Miller has been named vice president of mobile advertising for Apple as part of the deal.
Apple paid a reported $275 million for Quattro, a much better deal than Google ended up paying for rival mobile ad firm AdMob. Google ponied up $750 million in an attempt to outbid Apple, which had also reportedly made an offer for the company. That price is approximately 16.7 times AdMob’s sales, “the sort of price rarely seen in takeover deals since the heady days of the dot-com boom,” according to Reuters.
Read more: arstechnica.com