Opera Accepts US$1.2 Billion Offer by a Consortium of Chinese Companies

What: Oslo-based browser company Opera has received a buyout offer of US$1.2 billion by a consortium of Chinese companies.
Why it matters: The offer, which includes its lucrative mobile advertising business, is being led by investment fund Golden Brick Silk Road, along with Kunlun Tech , Qihoo 360 and Yonglian  Investment Co., Ltd.  (collectively the “Consortium.”) In 2014 Opera Mediaworks, a unit of Opera, bought Hunt Mobile, which targets the Latin America and the U.S. Hispanic market .

descargaOslo-based browser company Opera has received a buyout offer of US$1.2 billion by a consortium of Chinese companies.
The acquisition offer, which includes its lucrative mobile advertising business, is being led by investment fund Golden Brick Silk Road, along with Kunlun Tech (a gaming company), Qihoo 360 (which makes anti-virus and browser software) and Yonglian (Yinchuan) Investment Co., Ltd. (“Yonglian”) (collectively the “Consortium.”)
In a press release, the company's board recommended shareholders to accept the US$1.2 billion offer from China-based investment firms.The Offer values the total share capital of Opera at approximately NOK 10.5 billion (USD 1.2 billion) on a fully diluted basis.

The company's board recommended shareholders to take the US$1.2 billion offer from China-based investment firms

Launch of the Offer is conditional upon approval by the general meeting of Kunlun of its participation in the Consortium. Such approval is expected to be obtained in the beginning of March 2016. The acceptance period in the Offer will commence no later than 15 March 2016.

Opera Business

Opera comprises mobile ad network Opera Mediaworks, which reaches more than 1 billion users and operates as a subsidiary for Opera’s desktop and mobile browser products. In February 2013 Opera spinned off its advertising business into a brand new entity called Opera Mediaworks. Among other acquisitions in 2014 Opera Media Works bought Argentina based Hunt Mobile Ads, a mobile Ad Network targeting the Spanish-speaking world (Latin America and the U.S. Hispanic market) as well as Brazil.

The Chinese firms are said to be more interested in Opera’s mobile ad business rather than its browser.

Other acquisitions under the Opera Mediaworks brand umbrella include: AdColony (mobile video ad network); AdMarvel (mobile ad serving); AdVine, Mobile Theory, Apprupt and 4th Screen (mobile ad networks); Skyfire Labs (mobile video optimization)and Handster (mobile app store platform).

The Chinese firms are said to be more interested in Opera’s mobile ad business rather than its browser. Its mobile ad tech’s Q4 2015 revenue was US$145.4 million, and total company Q4 revenue was US$193.5 million. In addition, Opera Mediaworks has seen particular growth in mobile video advertising( Its Q4 2015 revenues comprised 60% of all revenue for the platform), according to Adexchanger.
“There is strong strategic and industrial logic to the acquisition of Opera by the Consortium,” Opera CEO Lars Boilesen said in a statement. “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.”


Join us at the 2017 Sports Marketing Forum.. The first day of #Portada17 (Sept. 13, 2017 in NYC) will be all about Sports Marketing and insights and best practices on how best to use sports content to connect with the exploding multicultural demographic!


Editorial Staff

Portada Staff

MORE FROM PORTADA

BRAND MARKETING RESEARCH: 41% of Consumers Have Switched Brands Due to Poor Personalization

BRAND MARKETING RESEARCH: 41% of Consumers Have Switched Brands Due to Poor Personalization

A summary of the most exciting recent research in brand marketing in the U.S., U.S.-Hispanic and Latin American markets. If you're trying to keep up, consider this your one-stop shop.


Hispanic Mobile Network AdsMovil Provides Advertisers with Viable Alternative to Duopoly

Hispanic Mobile Network AdsMovil Provides Advertisers with Viable Alternative to Duopoly

Could Adsmovil be the long-awaited viable alternative to the Facebook/Google duopoly?


Meredith Corporation Buys Time Inc. for US$2.8 billion

Meredith Corporation Buys Time Inc. for US$2.8 billion

Meredith Corporation has entered into a binding agreement to acquire all outstanding shares of Time Inc. for US$18.50 per share in an all-cash transaction valued at us$2.8 billion.Meredith adds leading media brands to already strong portfolio of National and Local Media Properties, creating media powerhouse with US$4.8 Billion in Revenues, Including US$2.7 billion of advertising revenues.