Opera divests its connected TV business
Opera Software ASA (“Opera” or the “Company”) entered 19 December 2016 into an agreement to sell a majority stake in its TV business (“Opera TV”) to Moore Frères & Company (“Moore Frères”), a US based investment firm focused exclusively on the tech, media, telecom industries (the “Transaction”). The Transaction values Opera TV to an enterprise value of USD 114.3m. Opera will remain as a minority shareholder in Opera TV by rolling over a part of its equity stake. The purchase price consists of a cash consideration of USD 80m and preferred shares equivalent to 30% of Opera TV’s common equity (