Opera acquires competing mobile browser, Skyfire for $150 million
Opera is well known for its mobile browsers that promise to compress data using the cloud. The company has acquired its chief competitor, Skyfire, for $150 million in a bid to gain access to key technologies around mobile video compression. California based Skyfire is well known for its Rocket Optimizer Software that helps optimize video and other multimedia content for delivery over congested cell towers.
The software can provide a 60% boost in capacity by scaling the size of multimedia content as per available bandwidth. Skyfire also has a competing mobile web browser which passes data through it servers, compresses it and then delivers it to the mobile device to reduce data consumption. This is similar to the mobile browser provided by Opera making the two a natural fit. On completing the $150 million deal, Jeffrey Gluek, current CEO of Skyfire will retain the position and will also assume the role of EVP of Operator Business at Opera. Skyfire will function independently and will remain a distinct entity as a wholly owned subsidiary of Opera.