Word has it that Apple is apparently acquiring smartphone advertiser Quattro Wireless and is set to announce they have paid some $275 million for the innovative startup reports an article over on the Wall Street Journal.

They state that the acquisition announcement from Apple may well come as soon as today the 5th of January and should up the ante in the mobile advertising arena.

Quattro Wireless is a competitor to AdMob which was recently purchased by Google for a staggering $750 million. With the acquisition of Quattro Wireless it looks like Apple will be targeting the iPhone big time in the mobile ads world.

Quattro Wireless was founded several years ago and includes clients such as Disney, the National Football League and Ford. As expected, Apple has declined to comment on the deal.