Opera in talks for acquisition at $1.2 Billion


Lately, there have been a lot of rumors and speculations around the future of Opera, the norway based browser maker delayed their quarterly revenue announcement this week and it set a lot of people talking about the uncertain future.

There were rumors that Opera has failed to hit the estimated revenue figures and the company might consider some sell out offers. The rumors seem to have found a base now, with Opera announcing that they have received a buy-out bid from a Chinese group led by Kunlun Tech and Qihoo 360.

The offered price is $1.2 Billion for 100 percent of the company. The quoted amount is at 53% premium to the latest trading price of Opera shares and it seems that the company has advised its shareholders and other decision makers to accept the bid. The final decision will come after approval from the shareholders and the government.

Currently, Opera claims a user base of over 350 million users on mobile and desktop. Opera was one of the early players to pioneer the mobile browser market with a very popular product called Opera Mini. On top of that, Opera has also invested heavily on its mobile advertising business. The acquisition rumors were evident as early as last year when Facebook was said to be in talks to acquire Opera. However, now the fact seems more evident and we might just see another billion dollar deal in the tech market soon.

Stay Tuned.