Opera Sings Praises for Chinese Buyout Bid
A consortium of Chinese companies has bid $1.2 billion for Opera Software, maker of web browsers and other mobile services. 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. Opera's board unanimously recommended the company accept the deal. "There is strong strategic and industrial logic to the acquisition of Opera by the consortium," said Opera CEO Lars Boilesen in a statement. "We believe that the consortium, with its breadth of expertise and strong market position in emerging markets, will be a strong owner of Opera, [will] serve our users, and [will] accelerate our plans of expansion and growth." Opera also offers data compression products directly to mobile network operators, and consumer-grade compression through its Opera Max app. The Opera browser is the sixth-most popular browser in the world.
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Opera Shareholders Approve Chinese Offer
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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 to Sell Browser Business to Chinese Firms for $600M
Jul 18, 2016
Opera Software today scrapped plans to sell its entire business to a consortium of Chinese companies and will instead sell to them its consumer browser business. The original deal, valued at $1.2 billion, would have seen a handful of China-based investment firms take over all of Opera's businesses.