$1.2 billion deal to acquire Opera fails

Things fall apart. Now opera has a better idea of the stream of emotions which flowed in Chinua Achebe’s pen when he crested the super book. Some time back in February, popular Web browser company Opera had gotten a hefty takeover proposal toned to around $1.2B from a collection of Chinese companies which was made up of mobile antivirus software maker Qihoo360 Technology, mobile game developer Kunlun, as well as investment firms Golden Brick and Yonglian.

$1.2 billion deal to acquire Opera fails

As it turned out, the bid enjoyed approval from Opera but the deal eventually broke down owing to unresolved bottlenecks as to regulatory hitches. Officially Opera had announced that conditions to close the public offer were not satisfactorily observed.

Yet the Chinese consortium are not ready to let sleeping dogs lie as they remain bent on absolving some concrete parts of Opera’s consumer business, which could possibly include the company’s browser business (both the desktop and mobile), its performance and privacy apps section and possibly; technology licensing business, even being ambitious enough to aim at the company’s stake in nHorizon, a Chinese joint venture.

Opera is actually struggling in the browser business and who knows may welcome a fresh breath.

He's an Associate at JustNaira. He loves to write about technology, business,sport and life, mixed with some randomness of what he would like to share. He's favorite activity is pretending that he can sing.

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