Reports have speculated that the giant manufacturer of some of the most popular electronic gadgets, Apple Inc. is looking to purchase the mobile ad firm Quattro Wireless in a deal which will cost the former $275 Million. With the acquisition, Apple would further intensify its heated competition with the search engine giant Google.

If sources are to be believed, an official announcement about the development could come from Apple's side as early as Tuesday.

The news has followed Google's announcement in November to purchase AdMob, which is again a mobile advertisement company, for $750 Million. AdMob and Quattro both focus of in-application and various other types of mobile ads, which are displayed on smartphones like the iPhone and those that are equipped with Google's Android operating system.

Last year, Google's CEO Eric Schmidt resigned from Apple's board of directors citing growing concerns about Google's continuously increasing competition with Apple.

Currently, Google's purchase of AdMob is under regulatory scrutiny.