Apple to Close Mobile Ad Network Quattro

Apple plans to shutter mobile ad network Quattro Wireless, which it acquired for $275 million last year, in order to focus squarely on its own recently introduced iAd format. "We believe iAd is the best mobile ad network in the world, and starting next month we're going to focus all of our resources on the iAd advertising platform," Apple wrote in a note on QuattroWireless.com. "We are no longer accepting new campaigns for the Quattro Wireless Network, and we will soon begin winding down existing campaigns. As of September 30, we will support ads exclusively for the iAd Network." Business Insider notes the move could be a boon to mobile ad networks like AdMob, Millennial Media and JumpTap -- for advertisers not interested in the iAd format.