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Opera Software to Sell Internet Browser Businesses to Chinese Association
Opera Software ASA said it would sell its internet browser business to a Chinese association, after a $1.2 billion bid for the whole firm was terminated Monday after failing to get regulatory approvals.
Opera said the first deal did not get the regulatory approvals that were necessary by a July 15 deadline, but declined to specify of which state it lacked governmental acceptance.
The association will now purchase Opera’s mobile and desktop browser, the Norwegian business’s main products, in addition to its functionality and secrecy programs, technology licensing beyond Opera TV and Opera’s 29.09% position in Chinese joint venture nHorizon. Games, Apps & Opera Mediaworks and Opera TV aren’t contained in the sale, Opera said.
Opera found free mobile browsers with built in a virtual private network characteristic and advertisement.
The Chinese bidders initially offered 71 Norwegian krone ($8.4) a share for Oslo-based Opera in February, a deal the Opera board urged its shareholders accept.
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