After a difficult battle against Chrome, Firefox, and other newer competitors, Opera has decided to sell its browsers. Hence, after a period of negotiations the popular web and mobile browser Opera has been acquired by the Chinese group JV nHorizon for about 600 million dollars.
Opera Sold To A Chinese Group For $600 Million
It was in February this year the Opera sale process began to take shape. Despite being one of the best web browsers available, it has not been very easy to fight the dominant Mozilla Firefox, Google Chrome and other browsers that users are fighting to conquer.
Opera desktop and mobile browsers have some very interesting features which are especially appreciated by the users of smartphones, features such as high data compression, and less charging time basically these features are not present in other browsers.
However, very few prefer to use this browser and for that reason the company has decided to sell, reaching an agreement with a group of Chinese buyers who acquired the mobile business and the desktop browser for $600 million.
Everything seemed on track in February when the news of a possible sale of the Opera came. The shareholders of the company agreed to the sale, which had been preparing since last year. But the truth is that finally, this business reached an agreement with a substantially lower value than the originally spoken before (initial value 1.2 billion).
This agreement has not been included Opera advertising activity. Hence, the company has decided to keep this business out of business in order to avoid a regulatory delay in the long process of approval of this sale.
One of the main investors in this group of Chinese buyers is Kunlun Tech Co., a Beijing-based company that runs the Android application store called 1Mobile and the desktop application store Brothersoft as well as the group Qihoo 360 also would be among the buyers.
It is not yet sure what the Chinese group, headed by the company’s research and the security company Qihoo 360 want to do with this browser. It is also unclear what will happen to the more than thousand employees that the company has dedicated to Opera browser.
However, with a market share of around 2%, Opera is the fifth most used browser, which recently shown some new technologies and features, dedicated to saving up the bandwidth and the battery in computers where it runs as we mentioned earlier.