This article is in a list format that may be better presented using prose. (July 2014)
|Traded as||OSE: OTELLO|
|Founded||22 June 1995|
|Founders||Jon Stephenson von Tetzchner
|Sverre Munck (Chairman)
Lars Boilesen (CEO)
|US$ 34.6 million (2015)|
|US$ -51.2 million (2015)|
Number of employees
|Parent||Golden Brick Capital Private Equity Fund I L.P.|
Otello Corporation (formerly Opera Software ASA) is a Norwegian software company, primarily known for its desktop Opera web browser, and mobile web browser Opera Mini. Across multiple platforms, Opera browsers have more than 350 million users worldwide. Otello Corporation is also involved in promoting Web standards through participation in the W3C. The company has its headquarters in Oslo, Norway and is listed on Oslo Stock Exchange. The company also has offices in Sweden, Poland, the People's Republic of China, Japan, South Korea, Australia, Russia, Ukraine, Iceland, Singapore, Taiwan and the United States. Otello's stated vision is "to deliver the best Internet experience on any device."
On 10 February 2016, a group of Chinese investors offered $1.2 billion USD ($8.31 per share) to buy the company, though the deal reportedly did not meet regulatory approval. On 18 July 2016, the company announced it had sold its browser, privacy and performance apps, and its name to Golden Brick Capital Private Equity Fund I Limited Partnership (a consortium of Chinese investors including Qihoo 360) for an amount of $600 million USD. The transaction for sale of Opera's consumer business was approved on 31 October, 2016 by the Committee on Foreign Investment in the United States. On 4 November, 2016, Golden Brick Capital Private Equity Fund I L.P. completed the acquisition.
Opera Software was founded as an independent company in Norway on 30 August 1995 by Jon Stephenson von Tetzchner and Geir Ivarsøy. The company was created to continue what was originally a research project at Telenor, the largest Norwegian telecommunications company.
In an attempt to capitalize on the emerging market for Internet-connected handheld devices, a project to port the Opera browser to more platforms was started in 1998. Opera 4.0, released in 2000, included a new cross-platform core that facilitated creation of editions of Opera for multiple operating systems and platforms.
Up to this point, the Opera browser was trialware and had to be purchased after the trial period ended, however this ended with version 5.0, released in 2000. Instead, Opera became ad-sponsored, displaying advertisements to users without a license, which was commonly criticized as a barrier to gaining market share. In newer versions, the user was allowed a choice of generic graphical banners or text-based targeted advertisements provided by Google based upon the page being viewed.
In 2004, Opera Software settled a lawsuit with an "international corporation" paying $12.75 million USD to Opera. It was speculated that the "international corporation" named in the statement announcing the settlement was Microsoft, which had previously blocked Opera users from correctly viewing MSN.com.
On 12 January 2005, Opera Software announced that it would offer free licenses to higher education institutions -- a change from the previous cost of $1,000 USD for unlimited licenses. Schools that opted for the free license included Massachusetts Institute of Technology (MIT), Harvard University, University of Oxford, Georgia Institute of Technology, and Duke University.
With version 8.5 (released in 2005) the advertisements were removed entirely and primary financial support came through revenue from Google (Opera's default search engine).
In August 2005, the company introduced Opera Mini, a new Java ME based web browser for mobile phones originally marketed not to end users but to mobile network operators to pre-load on phones or offer for their subscribers.
In 2007, Opera filed a complaint against Microsoft in the European Commission, alleging that bundling Internet Explorer with Microsoft Windows is harmful to both the consumer and to other web browser companies. The complaint resulted in the creation of BrowserChoice.eu.
In 2012, Opera Software and Bharti Airtel signed an agreement to provide Opera Mini browsers to the Airtel mobile customers.
In 2013 Opera Software decided to not use their in-house rendering engine for the Desktop Browser anymore. From Version 15 on the Opera browser for computers would be using the Blink rendering engine, a fork of Webkit developed together with Google.
In March 2015 Mobile World Congress in Barcelona, Opera won Global Mobile Award of Best Mobile Product, Initiative or Service in Emerging Markets for Opera Web Pass and Sponsored Web Pass.. In April Opera Software decided to centre development of the Opera Desktop browser in Poland. On April 12,Opera TV AS was established to separate TV-related business from all other assets, which became part of Opera Software AS; both companies became wholly owned subsidiaries of Opera Software ASA. In September, the company announced a rebrand with a new three-dimensional "O" logo and brand identity. In the process, the company logotype changed from "Opera Software" to "Opera".
In January 2017, the company introduced Opera Neon, a new concept browser that is intended as an exploration of browser design alternatives. The browser is built on top of Blink engine and it is available for Windows and macOS.
On 20 January 2010, Opera Software announced that it had acquired AdMarvel, Inc.
On 19 September 2011, Opera Software announced that it had acquired mobile application platform Handster, the leading independent app store for Android apps at that time, in order to strengthen the Opera Mobile Store's offerings to consumers, mobile operators and handset manufacturers.
On 15 February 2013, Opera Software announced that it had acquired Skyfire for $155 million. Opera primarily targeted the company for its video optimization technologies, such as its Rocket Optimizer platform, which would complement its own content optimization technologies.
On 4 June 2014, Opera Software announced that it is acquiring AdColony to bolster its mobile video ad capabilities. Opera paid $75 million in cash for AdColony, plus potential earn-out payments of up to $275 million.
On 6 November 2017, Opera Software divested its SurfEasy subsidiary by selling it to Symantec Corporation for $38.5 million all in cash. 85% of the payment was released on November 6, 2017 by Symantec with the remaining 15% remaining in escrow for up to 15 months. Specific earn-out targets were not mentioned.
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