Opera has reached an agreement with a consortium of Chinese companies led by Golden Brick Capita to sell part of its consumer business, the mobile and desktop browser portion for an estimated $600 million, after the original $1 Billion buyout by the Chinese group failed to get timely regulatory approvals.
The buyer group includes Chinese game maker Beijing Kunlun Tech, Internet security provider Qihoo 360 Technology and Yonglian Investment.
The deal also includes Operator Co-branded Mobile Browser solutions, Performance and Privacy Apps, Opera's technology licensing business outside of Opera TV and Opera's 29.09% ownership in the Chinese joint venture nHorizon. Opera, however will retain Opera Mediaworks, Opera Apps & Games (including Bemobi) and Opera TV to pave way for easier regulatory approvals.
Opera claims that its browser is used by more than 350 million consumers worldwide and ranks fourth for mobile devices behind Google Chrome, Apple's Safari and Android Browser, according to data by NetMarketShare. Opera's CEO, Lars Boilesen, will serve as CEO for both Opera and the Consumer Business until the 31st of December 2016.
