“Apple is set to announce that it has acquired Quattro Wireless for $275 million, several sources confirmed,” Kara Swisher reports for AllThingsD.

“Google recently forked over an astonishing $750 million for AdMob, a Quattro competitor, which Apple had also made a bid to acquire,” Swisher reports. “Both start-ups are aimed squarely at the fast-growing market to advertise on smartphones.”

Swisher reports, “Waltham, Mass.-based Quattro has raised close to $30 million from two main venture investors–Highland Capital Partners and Globespan Capital Partners. Founded several years ago, its clients include Ford, Disney and the National Football League.”

Full article here.

[Thanks to MacDailyNews Reader "James W." for the heads up.]