Opera gets acquisition offer from Chinese consortium that includes Qihoo

The browser developer hopes to get access to the user base of Qihoo and Kunlun

Browser company Opera Software has received an acquisition offer for about US$1.2 billion from a Chinese consortium consisting of Internet companies Beijing Kunlun Tech  and Qihoo 360 Software.

Opera hopes that its products will get a boost from the user base in China of Qihoo and Kunlun, which in turn hope to cross-sell their products and services to the Opera user base, and take advantage of Opera's mobile advertising platform.

Kunlun, which acquired in January a majority stake in dating site Grindr, is focused on mobile gaming development and publishing, besides app distribution, while Qihoo is a provider of Internet and mobile security products.

The other prospective buyers include  investment companies like Golden Brick Silk Road (Shenzhen) and Yonglian (Yinchuan).

Opera said in August it had initiated a process "to evaluate and consider strategic alternatives" for the company, a process that was expected to be over in the second half of 2015. In December, it said the review would be completed in time for it to announce its earning for the full year 2015. On Wednesday, the company also announced its financial results.

The Oslo, Norway, company claims more than 350 million consumers worldwide. A longstanding player in the browser market, offering accelerated delivery of Web content using compression, Opera could not make it to the big league, particularly in the mobile market where Android and iOS phones dominate.

Its Opera Mini browser had 7.28 percent of the mobile phone and tablet market in January, compared to 41.57 percent for Chrome, 34.12 percent for Safari and 11.13 percent for the Android browser, according to Net Market Share.

The company has also launched apps like Opera Max for compressed download of videos and snaps across apps. It also ventured into Internet advertising through its Mediaworks unit.

The completion of the deal will depend on over 90 percent of the shareholders of Opera accepting the offer, among other conditions.

Join the newsletter!

Or
Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

John Ribeiro

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?