Opera is acquired by a Chinese consortium (Kunlun, Qihoo 360, Golden Brick, Yonglian)

In archaeological order


Opera gets $1.2 billion buyout offer from mix of Chinese firms, board recommends deal; ; In ZDNet; 2016-02-10.
Teaser: There is “strong strategic and industrial logic to the acquisition,” according to the software maker’s CEO.

Original Sources

Mentions

  • Price
    • $1.2B USD
    • 53% above Oslo close 2016-02-04.
  • Consortium
    • media
      • Kunlun
      • Qihoo 360
    • pure-play investment
      • Golden Brick
      • Yonglian
  • Who
    • Lars Boilesen, CEO, Opera
    • Sverre Munck, chairman of the board, Opera
    • Yahui Zhou, CEO, Kunlun,
  • Process
    • For sale since 2015-08.
    • Representors
      • Morgan Stanley International
      • ABG Sundal Collier

Qihoo 360-Led Chinese Consortium Makes $1.2 Billion Offer for Opera; Rick Carew (Hong Kong), Kjetil Malkenes Hovland (Oslo); In The Wall Street Journal (WSJ); 2016-02-10.
Teaser: Bid for Norwegian company adds to a busy start to 2016 for outbound Chinese acquisitions

Mentions

  • Opera Software ASA, Norway
  • A consortium of Chinese companies
    • Operators
      • Qihoo 360 Technology Co.
      • Beijing Kunlun Tech Co.
    • Investors
      • Golden Brick
      • Silk Road Fund Management (Shenzhen) LLP
      • Yonglian (Yinchuan) Investment Co.
  • Bid (proposal)
    • Equivalently
      • $1.2B USD in cash
      • 71 Norwegian kroner ($8.27)/share
    • Factoid
      • a 46% premium over trading 2016-02-05
      • <quote>When trading resumed on Wednesday, the stock soared more than 40%, and closed up 33% at 65.10 kroner.</quote>
    • Support
      • Board of Directors, Opera Software ASA
      • 33% of the shares
  • Valuation
    • 2016: $690 million → $740 million (range)
    • 2015: $616 million.
  • Consortium
  • Competition
    sources via StatCounter

    • Android of Googleof Alphabet
      • Chrome → 36.8% market share
    • Microsoft
      • unstated products & market share.
    • Alibaba Group Holding Ltd.
      • UCWeb → ~20% market share
  • Market Share
    sources via StatCounter

    1. Something
    2. Something
    3. Safari
    4. Opera (Phone)→ 10.8%
    5. something
    6. Opera (All; Phone, Tablet, Laptop) → 5.7%
  • Background
    • Qihoo is
      • <quote><snip/>in the process of delisting from the New York Stock Exchange after agreeing in December to a buyout by a consortium including its chairman for $9 billion.</quote>
      • makes mobile and PC antivirus software,
      • operates a search engine
        • No. 2 search engine in China
        • Search engine behind Baidu Inc.
      • has a “secure” Web browser.
    • Kunlun
      • a 60% stake in gay-dating app Grindr LLC for $93 million 2016-01.
    • Other acquisitions by Chinese companies.
  • Who
    • Yu Ling, press relations, Qihoo
    • Havard Nilsson, staff, Carnegie ASA.

Previously

In The Wall Street Journal (WSJ):

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