Workshop week

Takeover Rumoured as Opera Pushes Back Earnings Release

Tim Maytom

Opera-logo.jpgOnline ad company and browser developer Opera has had trading in its shares suspended as rumours circulate that the company is preparing for a takeover by Chinese security firm Qihoo 360.

The Oslo stock exchange decided to halt trading in Opera's shares last Friday after rumours of an acquisition by Qihoo 360 appeared in a Norweigan newspaper, and made the unusual move of keeping the shares suspended after the weekend.

Now, Opera has added to the rumours by deciding to postpone its quarterly earnings call by a day, to tomorrow morning, with many analysts suggesting there is a now a high chance the company will use the call to announce its acquisition.

Opera has been actively searching for a buyer for several months, even going as far to hire Morgan Stanley International and ABG Sundal Collier in an effort to help it find a buyer.

While Qihoo 360, which offers both a range of security products and its own browser, is the most likely suspect for the takeover, other rumours have suggested that AOL may be looking to purchase the firm for its ad tech offerings, which have recently expanded to include app install ads.

Whoever it is that has their eyes on Opera, it's likely we'll find out exactly what the company's future looks like when their earnings call finally happens tomorrow morning.

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