Moore Frères & Company has bought Opera TV from Opera Software ASA for its over-the-top (OTT) video streaming software. The deal marks the first acquisition for the buyer.
OperaTV develops cloud-based software for streaming video over the Internet. The software allows devices connected to a smart television, Blu-ray disc player, video game console, or a set-top box to access video from content providers. Sales for smart televisions and internet connected set-top boxes are expected to increase sharply, enabling a $62 billion OTT industry by 2020, according to a study by RnR Market Research. Consumer electronics companies are among Opera TV’s major clients, including: Sony Corp (NYSE: SNE), Samsung Electronics Co., TiVo Corp. (Nasdaq: TIVO), Verizon Communications (NYSE: VZ) and Sagemcom. As part of the deal, Opera Software will maintain a minority stake in the target.