Opera Buys Mobile Video Advertising Platform
Published on: 25th Jun 2014
Note -- this news article is more than a year old.
Web browser to mobile ad agency, Opera has acquired AdColony, a mobile video advertising platform, for USD75 million in cash, and up to USD275 million by 2016 as a mix of cash or shares.
AdColony company's customers include Fortune 500 brands, performance advertisers and more than 70 percent of the world's top grossing app publishers.
It delivers in-app adverts, which the company claims can somehow be delivered with minimal latency problems over a wireless connection.
AdColony will continue to support its existing customers as usual following the acquisition. Will Kassoy will continue to lead AdColony as CEO, and he will additionally take on the role of Chief Marketing Officer of Opera Mediaworks.
Opera also raised its own revenue forecasts as a result of the deal, from US$390-410 million to US$435-460 million for the full year.