Current logo of Otello Corp.
|Opera Software ASA|
|Traded as||OSE: OTELLO|
|Founded||June 22, 1995Oslo, Norwayin|
Otello Corporation ASA (formerly Opera Software ASA) is a Norwegian internet company which develops advertising and mobile solutions for operators, publishers and advertisers. It operates through its subsidiaries which include AdColony (formerly Opera Mediaworks), a mobile advertising platform and network, Bemobi, a subscription-based mobile application and game discovery service, and Skyfire Labs, which provides mobile operators cloud based access for network management and video optimization, and advertising facilitation.
Opera Software ASA was founded as a holding company for Opera products and businesses. It changed its name to Otello Corporation after it sold off its web browser and consumer business along with the Opera brand (Opera Software AS) to a Chinese consortium of investors. While initially it planned to wholly sell itself off to the consortium the deal did not go through due to regulatory approvals, it settled by selling its consumer-facing web browser business instead.
On 19 September 2011, Opera Software[note 1] announced that it had acquired mobile application platform Handster, the leading independent app store for Android apps at that time, in order to strengthen the Opera Mobile Store's offerings to consumers, mobile operators and handset manufacturers.
On 15 February 2013, Opera Software[note 1] announced that it had acquired Skyfire for $155 million. Opera primarily targeted the company for its video optimization technologies, such as its Rocket Optimizer platform, which would complement its own content optimization technologies.
On 4 June 2014, Opera Software[note 1] announced that it is acquiring AdColony to bolster its mobile video ad capabilities. Opera paid $75 million in cash for AdColony, plus potential earn-out payments of up to $275 million. In December 2017, AdColony CEO, Will Kassoy stepped down from his position and was replaced by Otello CEO, Lars Boilesen.
On 6 November 2017, Opera Software[note 1] divested its SurfEasy subsidiary by selling it to Symantec for $38.5 million all in cash. 85% of the payment was released on November 6, 2017 by Symantec with the remaining 15% remaining in escrow for up to 15 months. Specific earn-out targets were not mentioned.
- Now Otello Corporation.
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