The acquisition will help the consumer-electronics company compete with the AdMob network that Google is about to purchase.
The Wall Street Journal-affiliated blog, 'All Things Digital', has reported that Apple would pay $275 million for Quattro.
With Quattro, Apple hopes to pull revenue from the sale of mobile ads using Google's business model. The announcement was made in a blog post by CEO of Quattro Wireless, Andy Miller, who is now the Vice President of mobile advertising at Apple.
Quattro's partners include the NHL, NFL and the Gawker Network spanning mobile websites and smartphone applications. The company serves mobile advertising in over 100 countries.