Summits Yellow

$1.2bn Opera Acquisition Falls Through, Replaced with $600m Deal

Alex Spencer

Opera-logo.jpgThe $1.2bn (£905m) deal to acquire Opera Software, the Norwegian tech company behind the browser of the same name, has fallen through.

First announced in February, the original deal would have seen Opera's entire business acquired by a consortium of Chinese companies including Kunlun Tech and Qihoo 360.

However, after failing to be approved by regulators within the necessary period, the deal has now been renegotiated to include only certain consumer-facing parts of Opera's business, at a price of $600m.

The consortium will acquire the Opera mobile and desktop browser, its performance and privacy apps, technology licensing business and 29.1 per cent stake in Chinese firm mHorizon.

This leaves the company with its Apps & Games business, which includes Bemobi, the subscription-based service Opera bought in 2015; Opera TV, and licensed tech pertaining to that service; and its ad business, Opera Mediaworks.

With the Opera brand going as part of the deal, these remaining businesses will have 18 months to find a new name.

The deal is expected to close in the second half of Q3 2016.

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