Tuesday, January 05, 2010, 08:10 am PT (11:10 am ET)
Quattro Wireless confirms acquisition, CEO named Apple VPApple has officially entered into the advertising business with the purchase of Quattro Wireless, the mobile ad company confirmed via its Web site Tuesday.
Andy Miller, former CEO of Quattro Wireless, has been named the vice president of Mobile Advertising at Apple. Miller confirmed the purchase and his new role with the Cupertino, Calif., company in a note on the Quattro Web site.
Monday evening, Apple's purchase of Quattro was first revealed, though unconfirmed. The company's advertising network includes iPhone, Android and other smartphone apps, as well as thousands of mobile Web sites. The Waltham, Mass., company has a client list that includes companies such as Disney, Visa and Ford. It is said that Apple agreed to a $275 million price tag.
Quattro is also a direct competitor to AdMob, the mobile advertising agency that Apple allegedly had discussions with before it was acquired by Google for $750 million. But Google's AdMob deal has come under scrutiny from the Federal Trade Commission, due to concerns that the deal could allow Google to monopolize the mobile ad market.
Miller's letter follows in its entirety:
- Happy New Year from Quattro Wireless!
We are thrilled to let you know that Apple has acquired Quattro. We want to share with you our excitement about this news and what it means for our customers.
We have built our business by enabling advertisers to reach the right consumers across the mobile web and in applications. We remain focused on delivering more engaging, relevant and useful ads to mobile devices, and improving the measurement and execution of digital campaigns. Together with Apple, we look forward to developing exciting new opportunities in the future that will benefit our customers.
For now, the offerings and services you receive from Quattro Wireless will not change. We will continue to operate the Quattro Wireless network across all devices and platforms. Your client and support teams will remain the same, and you can continue to expect the world-class service we are proud to deliver to our customers.
We look forward to working with you during this exciting time.
Vice President, Mobile Advertising
Apple's purchase of Quattro follows the acquisition of online music streaming service Lala in December. That deal, said to be valued at $85 million, is believed to pave the way for a cloud-based iTunes service.
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