Opera Software Changes Name to Otello Corporation
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. Under the terms of that deal, the investors also gained the rights to the Opera brand. The name change was planned from the get-go and is now taking place in order to provide separation between the two corporate entities. Opera Software ASA, now Otello, runs an advertising business called AdColony and a mobile app called Bemobi. Opera Software AS, the piece of the business sold to the Chinese investors, is keeping the Opera brand and will continue to develop the Opera browser for desktops and mobile devices.
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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.
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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.
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