Rumours are circulating that Apple is set to announce the acquisition of mobile ad network Quattro Wireless for $275 million (£172 million). Google pipped Apple to the acquisition of rival network AdMob late last year. If the reports are true, the purchase would signal Apples intention to grab a slice of the mobile advertising market. Quattro Wireless clients include P&G, Ford, NetFlix, Time Inc., Visa and Disney. We have asked Apple for the official line on the story, but no response as yet.
Google, meanwhile, is set to unveil its first Smartphone, the Nexus One, at an Android press event later today. Made by HTC, which also made the first Android handset, the G1, the phone runs on Qualcomms 1GHz Snapdragon CPU from Qualcomm, and sports a 5 megapixel camera, proximity sensor and accelerometer, plus wi-fi. 
