The new majority shareholder in Opera will be Hong Kong Kunlun, a subsidiary of Beijing Kunlun Tech Co., Ltd. The Chinese intend to buy out an 8.47% stake in Opera. The total cost of the deal will amount to $ 80.145 million. After its completion, the Chinese company will own a 53.88% stake in Opera Software.
As a result, Opera will be included in the consolidated financial statements of Beijing Kunlun Tech Co., Ltd.
The famous web browser Opera is owned by the Norwegian Opera Norway AS with a 25-year history. The software company specializes in web browsers and financial technologies. The total user base is 360 million monthly active users. Its shares have been listed on the Nasdaq exchange since 2018 as OPRA . According to the annual report of Opera Software, the company's operating profit for 2019 was $ 208 million. Opera Software's revenue from the search share was 41.3%, and from advertising - 33.1%.
Beijing Kunlun Tech Co., Ltd. is engaged in providing integrated value-added services on the Internet, and is also the largest web game developer in China. Kunlun Tech operating income for 2019 was $ 3.688 billion of the company founder -. 43-year-old Zhou Yahui ( of Zhou Yahui ). He held the post of CEO until 2020. Now he is the chairman and one of the leaders of Opera.
Kunlun Tech aims to become an international internet platform company. The deal will be a major milestone in its history. Kunlun Tech has been seeking Opera assets since 2016. Earlier, the deal in the amount of $ 1.2 billion was blocked by the American regulator. Then the Chinese were allowed to acquire only a share of the company for $ 600 million. However, it included the rights to the brand and browser business for mobile devices and computers.
This time the deal will be reviewed by the Chinese regulator, which increases the chances of approval.
