An investment consortium of leading Chinese Internet firms Kunlun and Qihoo has agreed to acquire 100% of internet and mobile advertising specialist Opera Software for $1.2 billion.
Opera develops and sells web browsers for computer, tablet, and mobile applications worldwide. The company was founded in 1994 and is headquartered in Oslo, Norway. Opera is the world’s sixth-biggest online browser with a market share of about 5.7%, according to Statfinder.
“Our board has undertaken a careful review of the terms and conditions of the Offer and is unanimous in its recommendation,” comments Sverre Munck, chairman of the board. “We commend the management team on the work they have done on behalf of the shareholders, employees and other Opera stakeholders.”