Although not yet confirmed by either company, it seems fairly certain that Apple has acquired Quattro Wireless, a mobile advertising business.
The deal - said to be worth around the $275 million mark - is an interesting move from Apple as Quattro Wireless provides a solution to get advertising into iPhone apps, as well as on other mobile platforms.
The buy-out will also potentially see Apple competing with Google in another market as Quattro Wireless is a rival to AdMob, the mobile advertising company Google recently splashed out $750 million for, although due to regulator interest that deal is yet to go through.
An official announcement is expected soon - we will keep you posted.
UPDATE: This has now been confirmed with a blog post on the Quattro Wireless site, although the amount Apple paid is confidential.