Apple Inc has acquired Quattro Wireless, as the iPhone maker looks to ramp up its presence in the mobile advertising arena.
Quattro announced the deal in a blog posting on its Web site on Tuesday.
Quattro did not give a purchase price. An Apple spokesman also declined to say how much the company paid.
The Wall Street Journal-affiliated blog All Things Digital reported late on Monday that Apple would pay $275 million for Quattro.
We look forward to developing exciting new opportunities that will benefit Quattro Wireless customers in the future, Apple spokesman Steve Dowling said.
Quattro's advertising network spans mobile Web sites and applications. The company is a competitor to AdMob, which Google Inc agreed to acquire in November for $750 million.
Shares of Cupertino, California-based Apple rose 80 cents to $214.81 on the Nasdaq.
(Reporting by Gabriel Madway, editing by Dave Zimmerman)