The Norwegian browser maker looks to improve its penetration and profitability with a venture into China.

 February 10, 2016  by Rahil Bhagat

 

Norway-based Opera Software has received a $1.2 billion acquisition offer from a group of Chinese companies, and has indicated it intends to accept.

The company on Wednesday said its board is unanimously recommending shareholders approve the takeover, which will give the browser-maker a stronger push into China under new stewardship.

The Chinese consortium in question includes Chinese Internet security company Qihoo 360, Internet-firm Beijing Kunlun (who invested roughly $93 million into Grindr earlier in the year) and investment funds Golden Brick and Yonglian.

 

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