Opera Software has completed its acquisition of AdColony, a West Los Angeles mobile video advertising platform that specializes in HD mobile video.
The $350 million sale is one of the largest in a year that has seen 25 tech company exits in deals totaling nearly $2 billion, according to Built in Los Angeles.
AdColony Chief Executive Will Kassoy will remain at the helm of the company’s day-to-day operations and will become Opera Mediaworks’ Chief Marketing Officer.
“Opera is a natural fit for us and helps us accelerate our vision to extend the reach of our TV-like experience to a global stage,” Kassoy said in a statement.
AdColony joins Oslo, Norway-based Opera’s international list of recent mobile ad company acquisitions, which includes AdMarvel, Mobile Theory, 4th Screen and Apprupt. AdColony’s offices will remain in Los Angeles.
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