Opera buys VC-backed mobile video ad firm AdColony

Opera said Tuesday that it has acquired AdColony. No financial terms were disclosed for the transaction, which is expected to be completed in the third quarter of this year. AdColony CEO Will Kassoy will remain in his role. In addition to this position, Kassoy will also become chief marketing officer of Opera Mediaworks. Backed by Insight Venture Partners, AdColony is a mobile video advertising firm.

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