Otello Corporation

Otello Corporation ASA (formerly Opera Software ASA) is a Norwegian internet company which develops advertising and mobile solutions for operators, publishers and advertisers.[2] It operates through its subsidiaries which include AdColony (formerly Opera Mediaworks), a mobile advertising platform and network, Bemobi, a subscription-based mobile application and game discovery service, and Skyfire Labs, which provides mobile operators cloud based access for network management and video optimization, and advertising facilitation.[5]

Otello Corporation ASA
FormerlyOpera Software ASA
TypePublic
OSE: OTELLO
ISINNO0010040611
Industry
  • Software
  • Internet
  • Advertising
FoundedJune 22, 1995 (1995-06-22) in Oslo, Norway[1]
HeadquartersOslo, Norway
Area served
[2]
Key people
[3]
Services
Revenue
  • US$99.2 million (2017)
  • US$142.5 million (2016)
[4]
  • -US$15.4 million (2017)
  • -US$30.3 million (2016)
[4]
Total assets
  • US$636.5 million (2017)
  • US$836.9 million (2016)
[4]
Number of employees
538 (2017) 
Divisions
  • Business sales
  • Information technologies
Subsidiaries
  • AdColony Inc.
  • Bemobi Midia e Entretenimento Ltda.
  • Skyfire Labs
[5]
Websiteotellocorp.com

Opera Software ASA was founded as a holding company for Opera products and businesses. It changed its name to Otello Corporation after it sold off its web browser and consumer business along with the Opera brand (Opera Software AS) to a Chinese consortium of investors.[6] While initially it planned to wholly sell itself off to the consortium the deal did not go through due to regulatory approvals, it settled by selling its consumer-facing web browser business instead.[7]

Acquisitions

On 20 January 2010, Opera Software[note 1] announced that it had acquired AdMarvel, Inc.[8]

On 30 April 2010, Opera Software[note 1] acquired Australian web email provider FastMail.[9] In September 2013, the staff of FastMail bought the company back from Opera Software.[10]

On 19 September 2011, Opera Software[note 1] announced that it had acquired mobile application platform Handster, the leading independent app store for Android apps at that time,[11] in order to strengthen the Opera Mobile Store's offerings to consumers, mobile operators and handset manufacturers.[12]

On 15 February 2013, Opera Software[note 1] announced that it had acquired Skyfire for $155 million. Opera primarily targeted the company for its video optimization technologies, such as its Rocket Optimizer platform, which would complement its own content optimization technologies.[13]

On 4 June 2014, Opera Software[note 1] announced that it is acquiring AdColony to bolster its mobile video ad capabilities. Opera paid $75 million in cash for AdColony, plus potential earn-out payments of up to $275 million.[14]

In March 2015, Opera Software[note 1] acquired the Canadian VPN company, SurfEasy and later integrated the SurfEasy VPN into Opera as a free and unlimited service for its users.[15]

In December 2017, AdColony CEO, Will Kassoy stepped down from his position and was replaced by Otello CEO, Lars Boilesen.[16]

Divestitures

On 20 December 2016, control of Opera TV AS was sold to Moore Frères & Company.[17][18] On 15 September 2017, Opera TV AS changed its name to Vewd Software AS.[19]

On 6 November 2017, Opera Software[note 1] divested its SurfEasy subsidiary by selling it to Symantec for $38.5 million all in cash. 85% of the payment was released on November 6, 2017 by Symantec with the remaining 15% remaining in escrow for up to 15 months. Specific earn-out targets were not publicly mentioned.[20]

Notes
  1. Now Otello Corporation.

References
  1. "Nøkkelopplysninger fra Enhetsregisteret". w2.brreg.no (in Norwegian). Brønnøysund Register Centre. Retrieved 14 May 2018.
  2. "Otello Corporation ASA: Private Company Information". bloomberg.com. Retrieved 2018-04-21.
  3. "OTELLO.OL Profile | OTELLO CORPORATION Stock". Yahoo Finance.
  4. "Quarterly Report 4Q 2017 Otello Corporation Asa" (PDF). otello.cdn.prismic.io. Retrieved 21 April 2018.
  5. "Otello Corporation ASA Company Profile". Reuters.com. Retrieved 2018-04-21.
  6. Hughes, Matthew (2017-12-18). "Opera Software ASA rebrands to Otello Corporation after selling its browser business (UPDATE)". The Next Web. Retrieved 2018-04-21.
  7. "Opera Plunges as $1 Billion Buyout by Chinese Group Fails to Get Approval". Bloomberg.com. 2016-07-18. Retrieved 2018-04-21.
  8. Wauters, Robin. "Opera Buys Mobile Ad Startup AdMarvel For $8M In Cash Plus A $15M Earnout". TechCrunch. Retrieved 2018-02-26.
  9. Opera acquires FastMail.fm Archived 2012-03-29 at WebCite, URL accessed on April 30, 2010
  10. Rob Mueller (25 September 2013). "Exciting news: FastMail staff purchase the business from Opera". FastMail. Retrieved 3 March 2015.
  11. Jennifer Van Grove (19 September 2011). "Opera Buys Top Mobile App Store Handster". Mashable. Retrieved 20 December 2012.
  12. "Opera acquires Handster Inc". Opera Press Releases (Press release). Opera Software ASA. 19 September 2011. Retrieved 20 December 2012.
  13. "Opera Eyes Speedier Mobile Web With Skyfire Acquisition". PC Magazine. Retrieved 15 February 2013.
  14. "Opera Buys Mobile Video Ad Firm AdColony". Wall Street Journal. Retrieved 24 June 2014.
  15. Kolondra, Krystian (20 April 2016). "Free VPN integrated in Opera for better online privacy". Opera Desktop Blog. Retrieved 18 October 2016.
  16. Editorial, Reuters. "Stock Quote News - Stock Market Quotes, Online Stock Quotes, India". IN. Retrieved 2018-02-26.
  17. "Global Leader in enabling OTT, Opera TV, acquired by Frères & Company" (PDF) (Press release). New York City: Moore Frères & Company. 20 December 2016. Retrieved 21 November 2017.
  18. "Opera divests its connected TV business". Oslo Stock Exchange. 20 December 2016. Retrieved 21 November 2017.
  19. "Opera TV is Now Vewd" (Press release).
  20. "Opera divests SurfEasy business". Oslo Stock Exchange. 6 November 2017. Retrieved 21 November 2017.
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