Opera Software is in the process of acquiring Skyfire Labs for $155 million in cash, stocks and other assets. While Opera has been competing with Skyfire in the browser space for years, the point of the buyout will be to initially share resources and strengthen both brands. Opera is particularly interested in Skyfire’s video-optimization and smartphone monetization products, which include Skyfire’s Rocket Optimizer software and Horizon extension/toolbar platform. Skyfire will remain an independent entity as a wholly-owned subsidiary of Opera Software, which means the Skyfire browser will continue to be developed by the same team moving forward. The acquisition will be finalized by March 15, 2013.
Quotes from Opera Software:
“Opera and Skyfire are a natural fit,” said Lars Boilesen, CEO, Opera Software. “Both companies have evolved far beyond their browser roots. Skyfire adds capabilities to our portfolio around video, app optimization, smartphones and tablets, and strength in North America. With video expected to consume over two-thirds of global mobile bandwidth by 2015, and as time spent on Android and iOS apps explodes, we are excited to extend Opera’s solutions for operators.”
Quotes from Skyfire:
“Opera practically invented cloud compression to improve mobile user experience, and the team at Skyfire is proud to join forces and advance cloud solutions together,” said Jeffrey Glueck, CEO of Skyfire. “Opera’s over 100 carrier relationships, global sales team, and delivery organization can accelerate the global commercialization of Skyfire’s technology. Opera´s Mediaworks advertising unit with AdMarvel, Mobile Theory and 4th Screen Advertising will strengthen Skyfire Horizon by offering mobile operators a complete turnkey solution including ad optimization, ad sales, and rich analytics. The synergies across all the product lines for both companies are tremendous.”