Mergers and Acquistions News
Categories: Software
January 22nd 2010, 16:45PM
Opera Software, the maker of one of the world's most popular browsers for mobile phones, has acquired AdMarvel, a provider of mobile advertising solutions, for a reported $8 million (£5 million) in cash.
According to a filing with the Oslo Bors, the acquisition deal will be supplemented by a further $15 million (£9.3 million) if certain financial targets are met over the next 24 months.
AdMarvel aims to facilitate the mobile advertising market through better transparency of performance, simpler management of ad traffic and increased control of performance.
"What started as a commercial relationship has blossomed into a wonderful partnership to serve the global mobile marketplace," commented Mahi de Silva, chief executive officer of AdMarvel.
"Combining our monetisation and analytics platform with the Opera browser and widget platform will create a new intelligent platform."
In December, Opera marked a new record in its browser business after racking up 12.5 million downloads in just seven days.
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