Apple (NSDQ: AAPL) has finally confirmed rampant reports that it is buying up mobile ad network Quattro Wireless. In a short blog post, Quattro CEO Andy Miller says that — for now — the company’s offerings won’t change and its “client and support teams” will remain the same. Miller is joining Apple as VP of mobile advertising.
By picking up Quattro, Apple is positioning itself to make money from the many ad-supported apps on the iPhone and iPod — and gets to counter Google’s recent $750 million purchase of AdMob. No word (at least yet) on how much Apple is paying. Our source puts the price at $270 million.