- Combined platforms to reach more than 700 million consumers globally
- The acquisition is expected to close in the Q3 of 2014
- Will Kassoy will continue to lead AdColony as CEO
Opera is all set to acquire AdColony, a mobile video advertising platform, to deliver mobile video advertising to publishers and advertisers with a combined reach of more than 700 million global consumers. The acquisition is expected to close in the third quarter of 2014.
“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 specialisation around mobile video – the fastest growing segment within the mobile advertising industry,” said Lars Boilesen, CEO, Opera Software.
AdColony’s skills are largely in delivering innovative, clear video ads instantly in HD across iOS and Android smartphone and tablet apps in the world. AdColony’s customers include Fortune 500 brands, performance advertisers and more than 70 per cent 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. 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 organisation and look forward to unlocking tremendous synergies together,” said Mr Kassoy.
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 should 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 monetise 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 USD 41.9 billion by 2017, with mobile video advertising showing the highest growth rate, according to Gartner.