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Opera browser acquired by Chinese consortium for $600 million

The Opera internet browser has been sold to a Chinese consortium for $600 million (543 million euros), said its Norwegian developer on Monday (July 18, 2016).

The group of companies, led by Golden Brick Silk Road, will acquire the mobile and desktop versions of the internet browser, while also getting the performance and privacy apps, its tech licensing, and its name. The Norwegian company will retain its consumer division, such as the Opera Apps & Games and Opera TV. The company hasn’t said what will happen to its 1,109 workers as their consumer arm only has 560 employees.

Opera CEO Lars Boilesen said that they believe that the new deal is very good for Opera workers and its shareholders. With the deal already approved by Opera’s board, the company now has 18 months to find a new name.

The $600-million deal was announced after the failed $1.2 billion public offer to acquire the whole company as the offer did not receive regulatory approvals before the deadline of July 15.

Golden Brick Silk Road fund is a Chinese board which is supported by Kunlun Tech Limited, Future Holding L.P., Keeneyes Future Holding Inc, Qihoo 360 Software Co. Ltd., Qifei International Development Co. Limited and Golden Brick Capital Private Equity Fund I L.P.Beijing Kunlun Tech Co. Ltd., and Golden Brick Silk Road Fund Management.

Opera said that the new deal is expected to be completed by the second half of 3rd quarter in 2016.

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