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Opera Software to sell internet-browser operations to Chinese consortium
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The Chinese consortium, led by Kunlun Tech and the Chinese antivirus and search company Qihoo 360, previously had a deal to bid for the entire Norwegian company with a $1.2 billion bid. (Shutterstock.com/Alexander Supertramp)
N
orwegian web browser Opera Software ASA said on Monday that it would sell its internet-browser business to a Chinese consortium, Wall Street Journal reported.
The Chinese consortium, led by Kunlun Tech and the Chinese antivirus and search company Qihoo 360, previously had a deal to bid for the entire Norwegian company with a $1.2 billion bid.
However, the bid was terminated Monday after failing to obtain regulatory approvals,according to Opera, declined to specify of which country it lacked governmental approval.
(Read also: Singapore public servants' computers to have no Internet access next year)
The group will now buy some of the businesses from Opera for $600 million, including its internet browsers, apps such as Performance and Privacy, some technical permissions except Opera TV, and 29.09 percent of the share of a joint venture nHorizon.
The Chinese group is led by Golden Brick Silk Road Fund Management of China, its Yonglian Investment, and Kunlun Tech and Qihoo 360.
