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Tuesday, January 5, 2010
Quattro Wireless acquired by Apple
By Mass High Tech staff
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Waltham mobile ad network Quattro Wireless Inc. has been bought by Apple Inc., the company confirmed on its website.
The Wall Street Journal blog AllThingsD noted that the acquisition was made for $275 million. Another source, the Innovation Economy blog, noted that the buyout would move Miller into a position below Apple CEO Steve Jobs, and no layoffs at Quattro are expected to result from the acquisition.
Quattro Wireless is backed by Highland Capital Partners and Globespan Capital Partners. As of March 2009, the company had raised a total of $28 million. Quattro Wireless reported that 1,000 new ad campaigns ran on its network in 2008, and current monthly visitors, as of early 2009, number 25 million.
Miller co-founded the company in 2006 with CTO Eswar Priyadarshan. Miller was a former executive at m-Qube Inc., the Watertown-based mobile marketing channel developer co-founded by Priyadarshan, which sold to California’s Verisign Inc. for $250 million in April 2006.
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