AdColony Acquired By Opera

Los Angeles-based mobile video advertising firm AdColony has been acquird by Silicon Valley mobile ad company Opera, the two said Tuesday. The deal is worth up to $350M. AdColony is led by Will Kassoy. Kassoy becomes Chief Marketing Officer of Opera Mediaworks with the buy. AdColony was venture backed by Insight Venture Partners. AdColony had formerly been part of Jirbo. Before AdColony, Kassoy had been at Activision Blizzard.