Opera Executes $155 Million Deal Buying Skyfire

Opera SkyfireJust after a few days of the discussion about the evolution to WebKit, the latest announcement form Opera Software states that the company has acquired Skyfire Labs, a Silicon Valley based tech firm which develops browser apps for mobile and most particularly is well known for the technology that allows non flash equipped devices to play flash videos.

Skyfire Labs also offers operators ‘Skyfire Horizon’, a monetization software, innovative multimedia optimization systems and ‘Rocket Optimizer’, a delivery solution.

The buyout price consists of both cash and shares also adding another upfront $50 million which includes $8 million from the Skyfire Labs balance sheet. More comes from the earn out payments based on performance over a 3 year period which includes cash worth $26 million from escrow and upfront funding. And at last, the total comes down to a $155 million. The take over deal is to be executed within 15th March, 2013.

A press release by Opera said that Skyfire Labs and Opera is a perfect match. Talents from both parties will work on next generation products in the coming years. Right now the company will focus on the expansion process of Opera’s Web Pass offers, a program which allows subscribers to pick through convenient data plans like an unlimited 1 day pass for popular applications and sites within affordable price.

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