Opera-the Norwegian web browser is in the line of being purchased by a Chinese consortium for $1.2 billion, the development indicates China recent drive to buy major businesses in the West.
According to CNN, Opera Software confirmed that it received an acquisition offer from a consortium consisting of Kunlun and Qihoo, Chinese internet firms, which are backed by two Chinese private equity funds that values Opera for $1.2 billion.
According to The Guardian, the takeover would allow the mobile games and apps firm Kunlun and internet-security company Qihoo to promote their products to Opera’s browser users, as well as use its mobile advertising network.
“We believe that the consortium, with its breadth of expertise and strong market position in emerging markets, will be a strong owner of Opera,” said Opera chief executive Lars Boilesen.
For the takeover to go smoothly, more than 90 percent of Opera’s shareholders will have to accept the offer.
The Opera browser was launched in 1995, more than two decades when users had to pay for a browser. Its competitors were the web veteran Netscape Navigator, Mosaic and the very first of Microsoft 's Internet Explorer.
The web browser, which claims to have more than 350 million users for browsing and mobile advertising, was popular years before Safari, Firefox or Chrome came into being.
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