Chinese Consortium Buys Opera for $600million (Bye Bye OperaMini?) - Dammybas Blog

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Chinese Consortium Buys Opera for $600million (Bye Bye OperaMini?)

Chinese Consortium Buys Opera for $600million (Bye Bye OperaMini?)

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The men from China are back again. Not to poach football players from your club, but to buy popular brand Opera from its Norwegian owners for about 600 million US Dollars. After a $1.2billion deal fell through earlier in the year, the owners of Opera have decided to sell most of the company to a chinese consortium led by search and security firm Qihoo 360. They will be buying the browser business, including iths privacy and performance apps, its tech licensing and of course the Opera brand name. This means that the fate of about 1,109 employees are currently unknown.

In a statement by the Opera CEO, Lars Boilesen, he said that he believes the deal vs very good for Opera employees and her shareholders. The company will still keep its consumer division which includes Opera Apps & Games and Opera TV which accounts for the bulk of the $616 million revenue the company accumulates. He also continued: "For Opera shareholders we are selling approximately a quarter of the company for $600m, which is an attractive price for this part of our business". The acquisition was approved by the Opera Board of directors and has given the Chinese consortium 18 months to find a new name.

Opera Logo
Opera is the fifth most popular desktop browser and accounts for about 10% of the mobile market. The browser has very intuitive features which has endeared it to the hearts of its users. Some of the features include in-built ad-blocking, data and video compression tools and a built in VPN. Hopefully, these features will not be removed else the browser loses its uniqueness.

Bye Bye OperaMini Browser, you will be missed.

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