Opera acquires 100% of the shares of Mobile Theory, Inc and 4th Screen Advertising, Ltd

Oslo, Norway, February 16, 2012 - Opera Software today announced that it has acquired Mobile Theory, Inc and 4th Screen Advertising, Ltd.

The acquisitions enable Opera to:

- Provide demand side advertising services to publishers and advertisers in the USA and Europe, key strategic geographic markets for Opera
- Offer an even broader value proposition to mobile publishers and advertisers in these geographies
- Bring in-house mobile advertising capabilities to better monetize Opera's owned and operated properties and traffic

Mobile Theory (www.mobiletheory.com) is a leading premium mobile advertising network based in San Francisco, California, USA, with offices in New York City, Chicago, Los Angeles and Seattle. The company, which is focused on the fast growing American mobile advertising market, experienced strong growth in 2011, is profitable and currently has 16 employees.

Mobile Theory Transaction Highlights:

$5 million cash at Closing (February 16, 2012)
$13 million cash in Escrow (to be paid to the Sellers in 2013 and 2014 based on minimum 2012 and 2013 revenue performance targets)
$0 - $32 million in potential earn-out cash consideration (to be paid to the Sellers in 2013 and 2014 based on aggressive 2012 and 2013 revenue and EBIT targets), plus additional potential limited consideration based on over performance on EBIT in 2012 and 2013.

The Mobile Theory transaction is expected to be e.p.s accretive to Opera in 2012 and 2013.

4th Screen Advertising (www.4th-screen.com) is a leading premium mobile advertising network in the United Kingdom. The company, which is focused on the fast growing mobile advertising market in the United Kingdom, is profitable and experiencing strong revenue growth. 4th Screen has 30 employees and is based in London.

4th Screen Advertising Transaction Highlights:

$5 million cash at Closing (February 16, 2012)
$3 million cash in Escrow (to be paid to the Sellers in 2012 and 2014)
$0 - $6.5 million in potential earn-out cash consideration (to be paid to the Sellers in 2013 and 2014 based on aggressive 2012 and 2013 revenue and EBIT targets), plus additional potential limited consideration based on over performance on EBIT in 2012 and 2013.

The 4th Screen Advertising transaction is expected to be e.p.s accretive to Opera in 2012 and 2013.

Erik Harrell, CFO/CSO
Tel: +47 2416 4053

Petter Lade, Investor Relations
Tel: +47 2369 3444

Opera Software ASA has redefined Web browsing for PCs, mobile phones and
other networked devices. Opera's cross-platform Web browser technology
is renowned for its performance, standards compliance and small size,
while giving users a faster, safer and more dynamic online experience.
Opera Software is headquartered in Oslo, Norway, with offices around the
world. The company is listed on the Oslo Stock Exchange under the ticker
symbol OPERA. Learn more about Opera at http://www.opera.com.