With its acquisition of Quattro Wireless, Apple Inc. (Nasdaq: AAPL
) has opened the door to competition with Yahoo Inc. (Nasdaq: YHOO
), Microsoft Corp. (Nasdaq: MSFT
), and especially Google Inc. (Nasdaq: GOOG
) in the mobile advertising market.
And Apple's venerable App Store
will play a key role in the company's expansion.
All Things Digital
, a tech blog affiliated with The Wall Street Journal
, reported the deal's value at $275 million
, citing several anonymous sources. It is the 24th acquisition
in Apple's 34-year history, and is characteristic of the previous 23: buying a small company that can easily be integrated into its existing projects.
In this case, Apple can use mobile web ads developed by Quattro to generate income from outside advertisers.