Opera Scoops Up Privately Held Mobile Ad Firm for $8 Million

Paul Lilly

Perhaps looking to run with the big dogs (think Google, Apple), Opera announced it has acquired AdMarvel, a privately held Norwegian Web browser company who makes a product suite aimed at managing how ads are shuttled over to mobile phones.

"In our fast-growing industry, mobile advertising represents an interesting long-term revenue opportunity. Every month, nearly 50 million people access the Web using Opera on their mobile phones and together with AdMarvel, we think we can play an important role in the evolution of mobile advertising," said Lars Boilesen , Chief Executive Officer, Opera Software.

The deal is worth at least $8 million, which is how much Opera will pay AdMarvel in cash, plus up to an additional $15 million more should AdMarvel meet specific financial targets in the next 2 years.

Opera plans to have AdMarvel continue to operate as a separate company, but will also work to integrate AdMarvel's products with Opera Mini for operator offerings.

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