After a US$1.24 billion takeover of Norwegian online browser firm Opera Software failed to obtain regulatory approval on time, a Chinese buyer consortium has agreed to take over Opera's core consumer business for US$600 million.
The buyer group, led by private-equity firm Golden Brick Capital Management Ltd., now plans to acquire Opera’s browser business, the performance and privacy apps, technology licensing and its stake in Chinese joint venture, nHorizon.
The buyer consortium, which also include Qihoo 360 Technology, Beijing Kunlun Tech, and Yonglian Investment Co., says the new deal structure will greatly accelerate the acquisition process, as the original deal failed over U.S. regulator's concerns over users privacy.
Golden Brick Capital, headquartered in Hong Kong with offices in Beijing, Shenzhen, Zhuhai and Moscow, manages assets of over RMB10 billion (US$1.5 billion).
Founded in 2014, the firm focuses on the TMT, energy, healthcare and financial technology sectors.
It lists Opera, Qihoo 360, cable television firm BCCTV and the mobile television unit of the People's Daily as its investment portfolio. No information can be found about the management team of the fund.