Continuing China’s mission to snatch up all of the business in the world, a consortium led by Chinese firms has offered $1.2 billion for the entirety of Norway-based web browser company Opera. And Opera’s board is unanimously keen on the offer.
Known as Golden Brick, the bidding group comprises of well-known Chinese tech firms Kunlun Technology and Qihoo 360 in addition to investment firm Yonglian. Here was their pitch in a Golden Brick press release:
The transaction would give Opera access to the extensive internet user base of Kunlun and Qihoo in China as well as the financing and other support of the Consortium that would allow for the full potential of the Company to be realized. At the same time, Kunlun and Qihoo would be able to cross-sell their products and services to the Opera user base, and benefit from Opera’s leading mobile advertising platform.
And the feeling is mutual. “The Board of Directors of Opera has unanimously decided to recommend the Company’s shareholders to accept the Offer,” reads a statement from the wooed. Here’s what Opera CEO Lars Boilesen had to say about it:
There is strong strategic and industrial logic to the acquisition of Opera by the Consortium. We believe that the Consortium, with its breadth of expertise and strong market position in emerging markets, will be a strong owner of Opera. The Consortium’s ownership will strengthen Opera’s position to serve our users and partners with even greater innovation, and to accelerate our plans of expansion and growth.
Apparently Kunlun is on a roll, having just recently bought a majority share in dating app Grindr. And last we heard from Qihoo on Shanghaiist, the firm was offering an inexplicable “pregnancy protection” mode for web browsing, so putting the moves on Opera seems a step up in productivity.