Mobile advertising networks are selling like hot cakes. Earlier, Google picked up Admob for $750 million, while Apple spent $275 million for Quattro Wireless. Now, in a rather surprising move, Opera Software has acquired AdMarvel. TechCrunch is reporting that Opera will be paying $8 million in cash, in addition to a $15 million earnout, if certain aggressive financial targets are met over the next 24 months.
AdMarvel is based in San Mateo, California and enables mobile publishers and operators to easily source, provision, manage and track advertising from virtually any ad network or direct sourced advertising inventory. AdMarvel works with mobile publishers, developers, carriers, ad networks, agencies and advertisers to optimize advertising inventory and revenue. AdMarvel services work across mobile web, WAP, SMS and in-application modalities.
Opera is a dominant player in the mobile arena which is a booming segment. Every month close to 50 million users access the web through Opera’s mobile offerings (Opera Mini and Opera Mobile). Although it is hard to guess exactly what Opera is planning to do with AdMarvel, it is fairly safe to assume that AdMarvel will play a role in helping Opera better monetize their mobile offerings.