Overlooked Opera Mediaworks acquires AdColony in bid to become ad powerhouse

In March we told you that mobile ad platform Opera Mediaworks was poised to make a lot of acquisitions, and it looks like it’s now started that process. Today it acquired mobile video advertiser AdColony.

You know those video ads that appear in your phone apps? That’s what AdColony does.

Silicon Valley looking to monetize their apps don’t seem to pay much notice to Opera Mediaworks. Why should they when Google and Facebook control 70 percent of mobile ad revenues? But the young startup is definitely a growing force.

AdColony was one of the top-ranked companies in our Global Games Monetization Report

Mediaworks spun off from the Norwegian browser company Opera in February, 2013. Since then, it has focused on working with publishers. In March, CEO Mahi de Silva told VentureBeat that 19 of the top 25 publishers use Mediaworks. AdColony also purportedly works with 70 percent of the world’s top publishers, allowing Mediaworks to further stake claim to that territory.

News of the acquisition was first reported by TechCrunch a few weeks ago.

When VentureBeat last spoke to de Silva, Opera Mediaworks had a $2 billion capitalization with a desire to build through acquisitions. Mediaworks will have to start its acquisition spree if the company is going to fully realize its dream of becoming a full-service mobile marketing conglomerate — as we’ve said before, that’s no small order.