After Apple failed to acquire AdMob against Google’s $750 million bid for the mobile ad network, it has moved on to other contenders to establish itself in the market. AllThingsD sources claim Apple has agreed to buy Quattro Wireless for $275 million and the announcement of the deal could come as early as later today. This adds a fascinating twist to Apple’s intentions. Are they looking to get into the media and advertising business with their iPhone/iPod touch devices? Is the upcoming Apple tablet part of the new advertising model? Whatever Apple’s intentions are, we will soon find out, and as always, this looks to be another model that Apple will make work.

Quattro Wireless has raised a collective $30 million from Highland Capital Partners and Globespan Capital Partners. This should also get other mobile ad networks to accelerate their growth for the eventual consolidation that will inevitably happen in 2010.