Opera Software acquires Skyfire Labs
Feb 15, 2013 (Datamonitor Financial Deals Tracker via COMTEX) --
Opera Software ASA, a Norway-based Opera Web browser for various platforms, operating systems and embedded internet products, has acquired Skyfire Labs, Inc., a US-based developer mobile video optimization and cloud solutions for mobility, in a cash and stock transaction.
The transaction is valued at approximately $155 million, with an upfront consideration of $50 million, which includes $8 million of cash on the Skyfire balance sheet, and performance based earn-out payments over three years, including $26 million in cash held in escrow and funded upfront.
Earlier, Skyfire has been backed by Panorama Capital, Verizon Investments LLC, Matrix Partners, Trinity Ventures and Lightspeed Venture Partners.
The transaction is expected to close before March 15, 2013.
Deal Value (US$ Million) 155
Deal Type Acquisition
Sub-Category Majority Acquisition
Deal Status Announced: 2013-02-15
Target (Company) Skyfire Labs, Inc.
Acquirer (Company) Opera Software ASA
Vendor (Company) Undisclosed Investors*
The acquisition will allow Opera to broaden its mobile operator solutions beyond the browser and strength its position in North America.
It will also allow Opera to add Skyfire's video-optimization and smart phone monetization products to its operator business unit.
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