Opera gets $1.2 billion buyout offer from Chinese companies

If you thought no one cares about the Opera browser, then think again. A new report reveals that Opera has confirmed to have received a buyout offer from a consortium of Chinese Internet companies that values it at $1.2 billion.It received the acquisition offer from Kunlun Tech and Qihoo 360, backed by Golden Brick Silk Road and Yonglian investment firms. Qihoo is an antivirus and browser-maker while Kunlun Tech is a gaming company. At this value, the browser maker is valued at '53 or so percent higher' than its closing price on 4 February, points out Engadget.The report also adds that Opera's willingness to approve the buyout isn't surprising as it has been actively looking for a buyer since 2015. Opera is known for its mobile browsers compressing websites and videos before being delivered to users. It is also known for its mobile advertising business. However, it never managed a considerable share on desktops.In the press release announcing the bid, the companies explain how the deal could help Opera grow its user base in China. "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," the statement reads.The online buzz also hints at the possibility of Opera accepting the offer.