Apple Reportedly Acquiring Mobile Ad Firm Quattro Wireless

Google is in the process of acquiring AdMob, another mobile advertising display company that Apple reportedly had its eye on before Google jumped in with its $750 million acquisition offer in November.

Monday The Wall Street Journal's All Things D blog reported that Apple will announce as soon as today that it has acquired Waltham, Mass.-based Quattro Wireless for $275 million. Quattro Wireless was founded in 2006 and is backed with venture funding from Highland Capital Partners and GlobeSpan Capital.

Quattro Wireless CEO Andy Miller reportedly will report directly to Apple CEO Steve Jobs and the company's 150 employees will keep their jobs, according to The Boston Globe.

AdMob and Quattro Wireless both serve up advertisements for smartphones such as Apple's iPhone and devices that use Google's Android operating system. Google is also expected to debut its own smartphone, the Nexus One, as early as today.

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With dueling smartphones and mobile advertising services, Apple and Google are increasingly finding themselves competing head-to-head in mobile computing markets.