Opera to Sell Browser Business to Chinese Firms for $600M
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. The deal was unable to win government approval in Opera's home country of Sweden and had to be scrapped. Opera and the firms in question reworked the deal to sell off Opera's browser business for $600 million. Under the terms of the deal, the consortium will get Opera's mobile browser, including versions co-branded by mobile network operators; Opera's desktop browser, and performance and privacy apps; Opera's technology licensing business; and Opera's 29.09% ownership of a nHorizon. The Chinese investment firms will be allowed to use the Opera brand on these consumer-facing products. Opera Software will hold onto its Opera Mediaworks, Opera Apps & Games, and Opera TV businesses. Opera CEO Lars Boilesen will serve as CEO for both Opera and the divested unit until December 31, after which he will remain with Opera Software. Opera believes this new transaction will be complete by the end of the third quarter.
Dec 18, 2017
Opera Software ASA, the former owner of the Opera browser, has changed its name to Otello Corporation. Opera Software ASA sold the Opera browser business to a consortium of Chinese investors in 2016.
Dec 13, 2018
Opera Software today launched a new version of its Opera browser for Android devices that takes a step toward the internet's future. The latest build of Opera, based on blockchain, now includes an integrated crypto wallet and Web 3 support.
Dec 14, 2018
Apple plans to issue a software patch to its iPhones to appease Qualcomm and Chinese authorities. Earlier this week, a Chinese court found Apple to be in violation of two Qualcomm patents pertaining to resizing pictures and managing apps with a touch screen.
May 4, 2018
China hopes he U.S. will have a change of heart and alter the seven-year ban it imposed against ZTE.
Then they wonder....