As BoomTown Said: Quattro Confirms Acquisition by Apple (Price: $275 Million)
While Quattro Wireless was not saying anything about price in its blog post this morning confirming our scoop–like the image?–last night that it had been acquired by Apple (AAPL), sources reconfirmed the $275 million figure Boomtown reported.
“It was a great company and a good price and a good time to sell, given all the change going on,” said one person with knowledge of the situation. “It is a game of size now.”
That would be a reference to Google (GOOG), which purchased Quattro rival AdMob for $750 million recently in what looks like a continuing consolidation of the mobile advertising market.
Here is the blog post by Quattro CEO (and now Apple mobile advertising VP, Andrew Miller) on the deal:
Happy New Year from Quattro Wireless
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