Opera to Be Sold to Chinese Tech Companies for $1.2 Billion

Opera Software ASA agreed to sell itself to a group of Chinese technology companies for about 10.5 billion kroner ($1.2 billion) in a deal that will give the Norwegian maker of Web browsers additional financing and access to new customers in China.

The group will begin a 71-kroner-a-share cash tender offer for Opera, the Oslo-based company said in a statement Wednesday. That’s 46 percent above the last closing price, on Feb. 5. Investors owning about a third of Opera and members of the executive team and the board holding shares have agreed to the offer, and the board is recommending it to stockholders, Opera said.