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Opera acquires AdColony to become the world's leading mobile video ad platform
SAN MATEO, Calif., June 24, 2014 /PRNewswire/ --Opera today announced that it has acquired AdColony, a leading mobile video advertising platform, to deliver best-in-class mobile video advertising to publishers and advertisers with a combined reach of more than 700 million global 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.
AdColony excels in delivering innovative, TV-like crystal-clear video ads instantly in HD across the most popular iOS and Android smartphone and tablet apps in the world. AdColony's proprietary Instant-Play video ad technology eliminates latency and long load times for video playback, providing the highest quality video experience for advertisers, publishers and consumers, with interactive elements to drive engagement, action and results. The company's customers include Fortune 500 brands, performance advertisers and more than 70 percent of the world's top grossing app publishers.
"AdColony's team, technology and execution will elevate Opera Mediaworks' already strong position in the mobile advertising industry. The combination will deliver an even better results-oriented, end-to-end offering for brands, agencies and publishers globally," said Mahi de Silva, CEO, Opera Mediaworks.
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 Mediaworks shares our vision to enhance the mobile ecosystem and deliver the highest quality mobile video experience in the world," said Will Kassoy, CEO, AdColony. "Our keen focus on the consumer experience in mobile apps combined with the massive growth of mobile video consumption worldwide, has catapulted our growth and made us a go-to partner for app developers and advertisers. We are excited to now be part of Opera Mediaworks' renowned global organization and look forward to unlocking tremendous synergies together."
For advertisers, the addition of AdColony will make Opera Mediaworks the most comprehensive suite of brand and performance-based mobile ad solutions, delivering creative, targeting, analytics, measurement, programmatic buying, and video and rich-media offerings.
For publishers, the combination will offer the world's largest mobile-focused ad server along with a larger scope of managed, self-service and programmatic tools creating powerful ways to monetize their inventory effectively.
Mobile video advertising is the fastest-growing advertising segment in all of digital advertising. Mobile advertising spend is expected to grow to $41.9 billion by 2017, with mobile video advertising showing the highest growth rate, according to Gartner. More data in this infographic.
The acquisition is expected to close in the third quarter of 2014. Financial details of this transaction can be found in the Oslo Stock Exchange press release here.
About Opera Software
Opera enables more than 350 million internet consumers worldwide to connect with the content and services that matter most to them, and more than 130 mobile operators to deliver the very best possible internet experience to their subscriber base. Opera also helps publishers monetize their content through advertising, and advertisers reach the audiences that build value for their businesses, capitalizing on a global consumer audience that exceeds 500 million.
Opera and Opera Mediaworks are trademarks of Opera Software ASA. All other trademarks are the property of their respective owners. Opera Software ASA is listed on the Oslo Stock Exchange under the ticker symbol OPERA.
About Opera Mediaworks
Opera Mediaworks powers the mobile ad economy through technology innovation, transparency and trust, to create vibrant marketplaces for publishers and advertisers across the globe. This enables advertisers to efficiently reach their target audience and publishers to improve their monetization. Opera Mediaworks operates the world's biggest brand-focused mobile ad network, serving 23 of the 25 top global brands. We also deliver the world's leading mobile ad server and monetization tools to 18 of the top 25 media companies worldwide. Our mission is to deliver relevance in the medium where it matters most -- on mobile devices.
Headquartered in Silicon Valley, California, Opera Mediaworks has offices in New York, United Kingdom, Germany, Argentina, Brazil, Mexico, India, Indonesia, Russia, Ukraine and Norway. Learn more about Opera Mediaworks at www.operamediaworks.com.
AdColony is a mobile video advertising company whose proprietary Instant-Play technology serves razor sharp, full-screen video ads instantly in HD across its extensive network of iOS and Android apps, eliminating the biggest pain points in mobile video advertising: long load times and grainy, choppy video. As a leading mobile video advertising and monetization platform, AdColony works with both Fortune 500 brands and the world's top grossing publishers. The company's reach, targeting and optimization tools and services provide advertisers with a superior way to engage mobile audiences at scale. AdColony's app developer tools and services provide publishing partners with ways to maximize monetization while gaining insight needed to continuously optimize content and advertising offerings. AdColony is a privately-held company backed by Insight Venture Partners and has offices in Los Angeles, San Francisco, Seattle, Chicago, Detroit, New York and London. To learn more about AdColony, visitwww.adcolony.com.
Falguni Bhuta, Opera Software
Molly Moriarty, AdColony
SOURCE Opera Software
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