Chinese companies including Qihoo 360 and Kunlun Games buy Opera's consumer businesses for $600 million
Focus for a quick sale
By Jon Jordan
| Date | Type | Companies Involved | Size |
|---|---|---|---|
| Jul 18, 2016 | acquisition | Beijing Kunlun Tech Co., Ltd. Opera Qihoo 360 Technology Co. | $600m |
The longrunning $1.2 billion takeover of Norwegian browser outfit Opera by a Chinese consortium including app distribution platform Qihoo 360 and Kunlun Games has failed.
Sources say the key issue was user privacy and the likelihood that US regulators would "rigorously investigate the deal," a Kunlun spokeswoman told Reuters.
Smaller focus
However, a $600 million deal has been salvaged which will see Opera sell its core consumer products including its browser business, technology licensing outside of Opera TV, and its 29% ownership of Chinese joint venture nHorizon.
Opera Mediaworks (including mobile video ad outfit AdColony), Opera Apps & Games (including Bemobi), and Opera TV are not included in the deal.
Companies
