Norwegian-based browser company, Opera, has been bought out by a Chinese consortium. The cost of the entire deal? A cool USD600 million.
According to TechCrunch, the Chinese consortium that led the buyout of Opera is Qihoo 360, a search and security firm. With this USD600 million deal, the Chinese consortium would acquire Opera’s browser business, its privacy and performance apps, its tech licensing, and its name. While the browser-side of things are now owned by the consortium, Opera’s consumer division, including Opera Apps & Games and Opera TV, remains under the Norwegian company’s control.
Originally, the Chinese consortium was supposed to acquire Opera for a USD1.2 billion deal back in February. However, it is reported that this particular deal failed to gain regulatory approval. Despite the initial setback, Opera CEO Lars Boilesen says that the new deal is “very good for Opera employees and Opera shareholders.” With the acquisition approved by Opera’s board, the company will need to find a new name within the next 18 months.
Source: TechCrunch
