Opera receives $1.2B takeover proposal; deal likely to happen

Popular Web browser company Opera has received a buyout offer from a Chinese consortium. The offer values the Norwegian company at NOK 10.5 billion ($1.2 billion), which is reportedly 53% more than its market value before the acquisition rumors broke.

Unsurprisingly, Opera seems to be interested in the offer, with the company's board unanimously recommending that shareholders approve the acquisition bid.

"There is strong strategic and industrial logic to the acquisition of Opera by the Consortium," Opera CEO Lars Boilesen said. "The Consortium’s ownership will strengthen Opera’s position to serve our users and partners with even greater innovation and to accelerate our plans of expansion and growth."

The companies that are part of the consortium include mobile game developer Kunlun, mobile antivirus software maker Qihoo360 Technology, as well as investment firms Golden Brick and Yonglian.

Source | Via