It was announced this week that Opera was buying mobile ad network Admarvel for $15 million. Opera has presently the biggest share of the global mobile browser market. Opera will probably leverage Admarvel to monetise all of its branded mobile products. Good move given its market reach.

Is this of the end to the wave of takeovers sweeping through the mobile ad market? There could be a few more big moves to come.

Microsoft does have some presence in the mobile display market – but might feel that it too needs to acquire an established mobile display player. Yahoo might also want to improve its present mobile ad platform and buy.

Some of the handset manufacturers might want to expand into the mobile ad market – or simply beef-up existing operations.

It would seem incomprehensible that a company like Nokia, who runs the biggest platform in the mobile market, would consciously let its two biggest smartphone rivals, Google and Apple, steal the march on it in the mobile ad business.

Nokia does have a mobile ad network business - and added Enpocket to build out its platform - but its operation lacked the real market clout of Quattro and Admob in the smartphone market. And now both are in the hands of Nokia’s biggest smartphone competitors.

Maybe Sony Ericsonn sees opportunity in the mobile ad business, and to get the right company will engage in some serious M&A action.

And we shouldn’t forget the mobile operators. They too might be looking to grab market share. It is possible. Amobee, who bought mobile ad network RingRing last week, are owned Telefonica. And Telfonica are the parent company of amongst others O2.

Here is a list of some potential acquisition targets:

Millenial Media
Mojiva
Webmoblink
Nexage
Smaato
Madvertise
4th Screen
Inmobi
Zest-Adz
Buzz City

And the list of those companies who might be shopping round:

Microsoft
Yahoo
Nokia
Sony Ericcsonn
Any of the large mobile operators