Apple buys mobile ad network Quattro
Apple has purchased mobile ad network Quattro Wireless which counts publishers including CBS, Hachette and Time as clients, according to reports.
The iPhone manufacturer is understood to have bought the US-based mobile ad network for $275m (£171m) and is expected to announce the deal tomorrow.
Apple’s push into the space follows Google’s acquisition of rival ad network AdMob for $750m (£467m) in November. At the time there was widespread speculation that Apple had made a failed bid for AdMob.
Apple is keen to generate revenues from the mobile ad market, which has been reinvigorated by the launch of ad inventory within the rapidly expanding mobile app market.
Apple’s App Store has seen 2bn apps downloaded since it launched in July 2008.
This story first appeared on newmediaage.co.uk