Opera has secured a $1.2 billion buyout offer from a consortium of Chinese Internet firms including Kunlun and Qihoo 360; both firms are backed by the investment funds Golden Brick and Yonglian, reports ZDNet. The deal is subject to shareholder and regulatory approval. Opera has been looking for a buyer since August 2015, after their earnings collapsed due to a steady loss of browser marketshare, and slowing advertising sales. Last year the company was said to be working with Morgan Stanley International and ABG Sundal Collier to help with the finding an acquirer. Opera’s falling market share Globally, Opera’s stands last among the top 5 desktop browsers along with a mere 2.05% share as of February 2016. It had a 1.67% share in January, last year. Among the top 9 mobile browsers globally, Opera ranks 4th with a 11.04% overall share as of February 2016. It increased from 9.55% in January last year, peaking at 13.32% during September 2015. Additionally, Opera has been steadily losing out to UC Browser in the Indian mobile browser market share with a 16.82% share as of February. UC browser currently leads with a 59.03% share among mobile browsers in India. Even though they fell short on overall browser shares, Opera’s revenue stood at $193.5 million in Q4FY15, up from $154.4 million in Q4FY14. The company’s projected revenue range for the fiscal year of 2016 is between $690m to $740m, said a Reuters report. Opera Apps Club violates net neutrality Opera launched Opera Apps Club…
