CEO of Quattro Wireless, Andy Miller, announced the news that QW had been bought by Apple in a recently published "Happy New Year" blog post. Miller – now signing off as 'Vice President of Mobile Advertising at Apple' rather than CEO of Quattro – said the company is excited by the deal and assured customers that, for now, the merger does not affect services offered by the mobile advertising company.
The news follows a similar acquisition made by Google in November. The search giant forked out a massive $750 million in stock for AdMob. Google gave the deal two thumbs up yesterday in its Public Policy Blog, which the company uses to communicate its views on government, policy and politics. From the statement below it seems Google is eager to prove to anyone who will listen that it's not the only one with a sizable stake in the mobile ad market.
Today's news that Apple is acquiring one of AdMob's competitors, Quattro Wireless, is further proof that the mobile advertising space continues to be competitive. And with more investments and acquisitions in the space, including from established players like Apple and Google, that's a sign that vigorous growth and competition will continue. That's ultimately great for users, advertisers and publishers alike.
Miller made no mention of how much Apple paid for Quattro but All Things D reported a figure of $250 million.