According to various media reports, Norwegian software company, Opera, has announced that it has accepted a $1.2 billion acquisition offer from a consortium of Chinese firms, led by Kunlun and Qihoo 360.
Reports of the
$1.2 billion dollar offer from the Chinese investors had previously been making the rounds early yesterday.
The company seemed to have considered the offer and accepted, saying in a press release: “A
cash consideration of NOK 71.00 will be offered per share, valuing the
total outstanding share capital of Opera at approximately NOK 10.5
billion (USD 1.2 billion) on a fully diluted basis. The Offer represents
a premium of approximately 53 per cent to the closing price on 4
February 2016, one day prior to speculations appearing in the local
market concerning a potential offer for the Company, and a premium of
approximately 56 per cent and approximately 46 per cent, respectively,
to the 30 trading days and 90 trading days volume weighted average share
price ending on 4 February 2016.”
Speaking on the deal, Lars Boilesen, CEO of Opera said, “There
is strong strategic and industrial logic to the acquisition of Opera by
the Consortium. We believe that the Consortium, with its breadth of
expertise and strong market position in emerging markets, will be a
strong owner of Opera. 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.”
Opera
is popularly known for its browser which is very popular in the
sub-$100 price range of mobile phones. The company has also ventured, in
recent times, into data compression and advertising.
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