Tech, Media & Telecom
Opera Software Snags Skyfire
The price for the software maker is expected to reach $155M due to earn-out payments over the course of three years
Opera Software ASA is set to buy Skyfire Labs, a maker of software for mobile video optimization. The cash and stock transaction includes potential earn-out payments that could bring the total price tag to roughly $155 million.
The deal size currently includes an upfront price of $50 million, including $8 million in cash. Performance-based earn-out payments over the course of three years, including $26 million in cash held in escrow and funded upfront, that can bring the total deal size to $155 million.
The Mountain View, Calif.-based target is known for its Rocket Optimizer, which provides mobile networks with more data capacity by reducing the size of content, such as video, in order to fit the available bandwidth.
The acquisition of Skyfire is expected to close before March 15.
Opera is headquartered in Oslo, Norway.
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