Opera acquires mobile video ad platform AdColony, ups guidance

OSLO, June 24 Tue Jun 24, 2014 10:52am EDT

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OSLO, June 24 (Reuters) - Norwegian technology firm Opera Software ASA has agreed to acquire U.S based AdColony, a mobile video advertising platform, it said on Tuesday and raised its earnings guidance for 2014.

Opera said it would pay $75 million in cash plus potential earn-out payments of up to $275 million.

The firm also raised its 2014 full year revenue guidance range to $435-$460 million from $390-410 million reported in the first quarter.

The transaction is expected to be closed by Aug. 15.

(Reporting by Nerijus Adomaitis)

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