Opera Software has persuaded its shareholders to agree a buyout offer from a Chinese association that values the company at $1.2 billion.
Qihoo, a leading security software company and Kunlun, a mobile internet provided has put the acquisition bid for Opera.
It has been recalled that since August of last year, Opera has been looking for strategic opportunities and the decision regarding this offer has been led by the Golden Brick Silk Road Fund Management of China which they described to came after keen and careful consideration of different opportunities for the entity and the proposals received.
According to a report, Opera's shareholders and board together with its management team accepted the offer and according to the source, the Chinese consortium said it was offering 71 NOK or 8.12 US Dollar per share which is believed to be 50 percent higher compared to its current value. The value offered is considered a large percentage which makes 90 percent of the shareholders to agree with the deal.
Though Opera increased its financial results to $193.5 million in sales and $32.8 million for the last quarter of 2015, the company has always been behind other more famous browsers like Chrome, Firefox and Internet Explorer.
"The company Enables more than 350 million Internet consumers worldwide to connect with the content and services that matter most to them," Opera shared through their company ideals.
The planned buyout in China has proved that Chinese companies have grown appetite for acquiring firms for enhancing technologies for their own home market which obviously lead to global market.
