Opera Software shares soared over 20 percent on Tuesday on talk Facebook Inc. was in discussion to buy the firm, while analysts said competition from Google and others could push the price tag of any deal over $1 billion.
Shares of Oslo-listed Opera, coveted for its advanced mobile phone software technology, jumped as much as 26 percent, valuing the firm at over $800 million.
Opera’s mobile technology, along with 170 million Opera Mini users, give the firm extensive commercial relationships with mobile phone manufacturers and operators.
Facebook has struggled to convert its rapidly increasing traffic from mobile platforms to revenue, and purchasing Opera would be a faster solution than building its own platform or browser, analysts added.
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Content Curator Tom George
Head of Inbound Advertising North America at Internet Billboards. Pioneering inbound advertising as well as an avid content curator who enjoys finding those digital gems out there in cyberspace and sharing them with others.