NORWEGIAN online browser and advertising firm Opera Software ASA said it would sell its Internet browser business to a Chinese consortium, after a US$1.2 billion bid for the entire company was terminated yesterday after failing to obtain regulatory approvals.

    Opera said the original deal failed to obtain the required regulatory approvals by a July 15 deadline, but declined to specify of which country it lacked governmental approval.

    Instead, the Chinese bidders, including security software firm Qihoo 360 Technology Co. and online game company Beijing Kunlun Tech Co., have agreed to buy certain parts of Opera’s consumer business in a deal valued at US$600 million on an enterprise basis.

    The consortium will now buy Opera’s mobile and desktop browser, the Norwegian company’s flagship products, as well as its performance and privacy apps, technology licensing outside of Opera TV and Opera’s 29.09 percent stake in Chinese joint venture nHorizon. Opera Mediaworks, Apps & Games and Opera TV aren’t included in the sale, Opera said.

    Opera Software was set up in 1994 as a research project within Norway’s biggest telecom provider, Telenor ASA, and became a stand-alone company in 1995.

    Opera recently launched free mobile browsers with built-in advertisement blocking and a virtual private network feature. It said its consumer products have 350 million monthly active users. (SD-Agencies)