We’re sharing a note from Will Kassoy, CEO Opera Mediaworks, regarding an update to the previously announced Opera ASA acquisition deal:
“Back in February, Opera Mediaworks’ parent company Opera ASA announced that a consortium of Chinese internet companies had made an offer to buy Opera.
In the process of closing the transaction, which required shareholder and regulatory approval, a different outcome for the deal than initially discussed at the beginning of the process has been decided.
After further negotiations, the consortium has agreed to acquire Opera’s consumer business (browser and app) only for a price of $600MM, as it has the most synergies with the current business of the Chinese consortium of companies.
Given the outcome, Opera Mediaworks will continue to operate as before as a US-based entity. This development does not change Opera Mediaworks’ commitment to providing our customers and partners with the best mobile advertising and marketing products and services.
Opera Mediaworks will continue to execute on its growth plans for 2016 and beyond. The current leadership of Opera Mediaworks will remain intact, and I will continue as CEO of the company.
Opera Mediaworks continues to be the largest independent mobile ad platform globally, and the focus of the company will continue around three core strategies:
- Growth – Continuing to extend our market leadership in key areas of strength which include Video, Performance Advertising and Programmatic.
- New products and innovation – The company is committed to new products and innovation that will help extend our leadership position in the mobile ecosystem.
- One platform – We are unifying our entire company around a single technology platform, tying all the previous advertising acquisitions onto a single stack, making it easier for our customers to transact, while driving operational efficiencies.
Over the past months, we’ve had the opportunity to work closer with both Kunlun and Qihoo 360 and have great respect for their people and products. And of course, we feel the same about the entire Opera browser and consumer products team globally. We are excited about this new direction and hope to maintain a strategic relationship with the Consortium entities, people and products post-transaction to help them achieve their business goals in the future.”