Qihoo 360, Kulun Enter $1.2B Buyout Bid For Opera

Norwegian-based Opera Software ASA, maker of the world’s fourth-biggest mobile browser, has received a $1.2 billion USD buy-out offer from a Chinese consortium including search and antivirus giant Qihoo 360 Technology Co. and game company Beijing Kulun Tech Co., according to a statement by Opera on Wednesday.

The consortium is offering to acquire the entirety of Opera shares at 71 Norwegian Kroner each ($8.33 USD), a 46% premium on their last trading price. Opera suspended trading on Friday amid speculation of the takeover and resumed on Wednesday, closing up 33% at  the end of the day.

Opera still trails behind Alphabet’s Chrome, Alibaba-backed UC Web and Apple’s Safari in the global mobile browser market, with a share of roughly 10 percent. Opera’s management has been open since last year about the potential of the company’s sale.

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