Opera acquires 100% shares of Admarvel, Inc.

Oslo, Norway, January 20, 2010 - Opera Software today announced that it has acquired privately held AdMarvel, Inc. The acquisition will enable Opera to expand its portfolio of products and services to include highly scalable ad monetization services for Opera branded mobile products and products and services offered by mobile operators and content partners. AdMarvel, based in San Mateo, California (USA), works with a broad set of constituents in the advertising ecosystem to improve the performance of mobile advertising. The company was founded in 2006 by a team of mobile veterans led by Mahi de Silva and now has 15 full-time equivalent employees and a broad customer base across the globe. The agreed acquisition price is approximately USD 8 million in cash. The acquisition structure also envisages up to an additional USD 15 million in cash consideration, paid only if certain aggressive financial targets are met over the next 24 months. Opera expects the acquisition to be dilutive to 2010 earnings per share and neutral to 2011 earnings per share. The transaction will have effect as of 20.01.2010. Please find further details regarding the acquisition here: http://www.opera.com/press/releases/2010/01/20_2/