The deal is expected to close in Q3 2014.
Today, Opera Software has announced the acquisition of AdColony, the mobile video advertising platform for a total of $75 million and potential earn out payments of up to $275 million so the total transaction value might be as high as $350 million over the next 2 years.
The deal is set to strengthen Opera’s mobile advertising business with a combined audience reach of 700 million consumers.
“Opera is growing rapidly and we are constantly looking for opportunities to bring best-of-breed services to the market. AdColony is a natural fit for Opera and our mobile advertising subsidiary, Opera Mediaworks. This acquisition will augment our services with a robust specialization around mobile video – the fastest growing segment within the mobile advertising industry,” said Lars Boilesen, CEO, Opera Software.
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Vygantas is a former web designer whose projects are used by companies such as AMD, NVIDIA and departed Westood Studios. Being passionate about software, Vygantas began his journalism career back in 2007 when he founded FavBrowser.com. Having said that, he is also an adrenaline junkie who enjoys good books, fitness activities and Forex trading.