Following news of Opera sealing a deal for mobile video ad platform AdColony, an announcement has been made detailing its consolidation under Opera Mediaworks.
Will Kassoy will remain as CEO of AdColony where his current responsibilities in overseeing the day-to-day operations of the company will be supplemented with a new role as chief marketing officer of Opera Mediaworks.
His new employer originally purchased AdColony to boost its own mobile advertising offerings and the Opera’s chief financial officer and chief strategy Erik Harrell believes its benefit will become immediately apparent.
“As a result of this transaction and incorporating additional investments we plan to make in our consumer and operator business areas during the second half of 2014, we are raising our 2014 full year revenue guidance range to $435 [million] - $460 million and full year Adjusted EBITDA* guidance range to $110 [million] - $120 million, assuming a closing of the transaction by August 15.”
Harrell also revealed that Opera would be raising its financial aspirations for 2015 to $670 million of revenue and $180 million of adjusted earnings before interest, taxes, depreciation, and amortisation.