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dAfter a previous deal fell through, Opera has reached an agreement to sell the mobile and desktop browser portion of its business to a group of Chinese companies for an estimated $600 million. Opera will retain its advertising business in a bid to avoid a long regulatory holdup.
Beyond the Opera browsers for mobile and desktop platforms, Opera will sell its performance and privacy technology, the various licenses owned by the company, and Opera's stake in Chinese firm nHorizon, which also develops a browser.
Omitted from this deal is Opera's advertising arm as well as a few other minor aspects of their business, which are apparently worth $600 million itself. The previous agreement, which included all of Opera, was for $1.2 billion. Because any deal would require regulatory approval in the United States—and the US was expected to closely scrutinize the privacy aspects of the advertising business—both sides agreed to just drop Opera's marketing arm. Fears were it could delay approval by up to a year.
Nonetheless, approval is still necessary so the deal isn't official just yet, despite the agreement.
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| Article Name | Opera Now Agrees to Sell its Browser to Group of Chinese For $600 Million |
| Description |
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| Author Name | Head Admin |
| Published On | 7/18/2016 |
| Post Category |
tech
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