The planned Chinese $1.2 billion takeover of Norway’s Opera Software has failed but an alternative deal is set, the company says.
Last February a Chinese consortium made a $1.2 billion offer to purchase the Norwegian company Opera.
The agreed takeover has failed, Opera said on Monday, after warning last week the deal had yet to win regulatory approval.
The following business units of Opera will be included in the transaction: Mobile Browser, including Operator Co-brand solutions; Desktop Browser; 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.
The Consumer Business will be reorganised into a separate company structure. The following businesses are not included in the Consumer Business or the transaction: Opera Mediaworks; Opera Apps & Games (including Bemobi) and Opera TV.
The buyer group includes private-equity firm Golden Brick Capital Management Ltd. and Chinese game maker Beijing Kunlun Tech Co., internet security provider Qihoo 360 Technology Co. and Yonglian Investment Co.
Opera’s CEO, Lars Boilesen, will serve as CEO for both Opera and the Consumer Business until December 31, 2016. After this date, Lars will no longer hold the role as CEO for the Consumer Business, and will be solely dedicated to Opera.
