AdColony has been acquired by Norwegian mobile software firm Opera Software for $75 million in cash, with potential earn-out payments of up to $275 million.
Launched in 2011, the West Los Angeles mobile video advertising platform delivers HD video ads across iOS and Android apps. It will provide the only mobile video pure play in Opera’s suite of products.
"We wanted to align ourselves with a partner who has largely complementary assets, who shares our vision for improving the mobile advertising ecosystem and who can help us realize our vision for AdColony even faster," said AdColony CEO Will Kassoy. "We’re happy to say that we found that partner in Opera. We hope to accelerate the growth of our mobile video advertising platform on a more global scale together."
AdColony joins Opera’s international list of recent mobile ad company acquisitions, which includes AdMarvel, Mobile Theory, 4th Screen and Apprupt.
The acquisition is expected to close in the third quarter of 2014.
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