Norwegian browser operator Opera has bought mobile ad network AdMarvel as it looks to expand its products in its contest against Apple’s Safari on the iPhone. This past summer, Opera’s mobile browser took a slim lead over Safari’s iPhone version. Opera claims over 50 million mobile users per month. The company already had an existing partnership with with four-year-old AdMarvel. But as the mobile ad market continues to heat up, it decided that owning the San Mateo, CA-based ad net can help it solidify relationships with publishers and marketers on a global basis. The deal’s terms weren’t disclosed.Release

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Update: An Opera rep tells us that the company is paying $8 million up front and could grant AdMarvel an additional $15 million if certain aggressive financial targets are met in two years.