Today, Opera Mediaworks’ parent company Opera ASA announced that a consortium of Chinese Internet companies has made a public offer to buy all the shares of Opera Software. The consortium is made up of Qihoo 360 Software (a security and browser company) and Kunlun (a mobile app and games company), as well as two investment funds, Golden Brick Capital and a Chinese government Fund.
The transaction would give Opera access to the extensive internet user base of Kunlun and Qihoo in China as well as the financing and other support of the consortium that would allow for the full potential of the company to be realized. At the same time, Kunlun and Qihoo 360 would be able to cross-sell their products and services to the Opera user base, and benefit from Opera’s leading mobile advertising platform.
“We think joining Kunlun and Quihoo 360 is a great outcome for Opera’s employees, shareholders and customers,” said Lars Boilesen, CEO, Opera ASA.
“Combined with their expertise, strength, innovation and market knowledge, Opera will have many new opportunities going forward. Not only will we be able to strengthen our position as a browser, advertising and TV market leader in the global marketplace, but we will be able to accelerate our plans to expand, grow, innovate, and keep on developing the best Internet products and services for our customers around the world,” he continued.
Kunlun and Qihoo 360 are two of the biggest and most innovative Internet companies based out of China and expanding rapidly worldwide. They are active in the games, software distribution, security and browser space, and they present clear synergies with what Opera is focusing on, including mobile advertising. We are excited that our new owners will understand, believe and support Opera’s products and plans of growth.
“We clearly believe that this combination with Kunlun and Quihoo 360 has strong synergies with the mobile advertising business and will bring more resources for innovation and expansion for Opera Mediaworks and our customers and partners globally,” said Will Kassoy, CEO, Opera Mediaworks.
The offer is subject to final shareholder and government/antitrust approvals. If the transaction does close, the intention is to keep operating Opera and its subsidiaries as before.
More information on this announcement can be found here.
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