A group of Chinese companies have offered $1.2 billion in cash for Opera Software, the Norway-based company known for its mobile browser.
Opera announced the offer Tuesday and also disclosed that the company’s board unanimously recommended that shareholders accept the offer. The companies making the bid include Golden Brick Silk Road Fund Management, and Qihoo 360, a security-software firm. The price represents a 53-percent premium on Opera’s value at close of trading Friday, according to reports.
Opera, a 20-year-old company, moved into mobile browsing relatively early but was eventually eclipsed by Safari and Chrome. More recently, Opera has invested heavily in its mobile-ad business, which has shown growth even while the company’s overall financial performance has been lackluster. For the fourth quarter of 2015, Opera reported a $6 million loss, compared with a $58 million loss for the same period a year earlier.
Lars Boilesen, Opera’s CEO, said in a statement: “We believe that the [buyers’ consortium], with its breadth of expertise and strong market position in emerging markets, will be a strong owner of Opera.”