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Opera Shareholders Approve Chinese Offer

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May 25, 2016, 7:45 AM by Eric M. Zeman

Opera's shareholders have approved a $1.2 billion bid from a consortium of Chinese companies. Just over 90% of shareholders voted in favor of the takeover, which was a condition of the offer made earlier this year. Opera's board of directors approved the deal in February. The collection of companies includes game-maker Kunlun, security firm Qihoo, and private investment firms Yonglian and Golden Brick. Qihoo has its own browser and would combine Opera's technology with its own. In addition to its desktop and mobile browsers, Opera also offers data compression products directly to mobile network operators, and consumer-grade compression through its Opera Max app. Opera did not say when it expects the deal to close.

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