Opera Software to sell browser biz to Chinese Group for $600M, $1.2B buyout deal fails

Opera new logo

Opera Software has decided to sell its businesses including browsers for mobile devices and desktops, technology licensing to Chinese Group for $600 million. The latest deal comes after Opera’s sell to the Chinese group did not received regulatory approvals.

Earlier in February this year, Opera had received $1.2 billion buyout offerfrom Chinese consortium. Qihoo 360 (mobile security maker) and Beijing Kunlun Tech (mobile game developer) are the companies included in the consortium along with investment funds Golden Brick and Yonglian.

The Chinese Group will gain control of Opera’s 29.09 percent stake in the Chinese company nHorizon, in which Opera Software has invested, and they will also take over the reins of Opera’s technology licensing business outside of Opera TV. It will not acquire Opera’s advertising and marketing business, its TV operations, nor the apps that are game-related. Opera Mediaworks, Opera Apps & Games (including Bemobi), and Opera TV will continue to remain under Opera Software’s control.
The deal is expected to be closed in the second half of Q3 2016, pending further regulatory approval.

Author: Sneha Bokil

Sneha Bokil is a tech enthusiast and is currently using OnePlus 3T but she still treasures her Nokia N70 (M). You can follow her on Twitter @snehabokil and on Google+