Opera Software to focus on mobile advertising business

opera software

Opera Software has said that it won’t be selling off its mobile and other companies after all and instead focus on mobile advertising to develop a range of new tools and feature. The news follow the sale of the company’s internet browser business in 2015.

Opera Mediaworks mobile advertising

opera mediaworks

Source: operamediaworks.com

Opera made $600m as part of the deal and now plans to put the cash to good use. But it has already confirmed that it won’t be acquiring any new companies with the proceeds. Instead, Opera may be using the funds for a dividend and share buyback.

Lars Boilesen, CEO, Opera Software told Reuters:

lars boilesen

“New acquisitions from our side are highly unlikely.”

In addition, he rejected claims that the mobile advertising business may be sold any time soon.

“We have just been through a very long and demanding strategic process and I’m certain we won’t launch another one now. It is way too time consuming and disruptive.[…] We are left with a very exciting company. […] I think a lot of things will happen for us in 2017.”

Boilesen added that he believes recent acquisition Skyfire, the cloud-based service for mobile phone network operators, would likely be profitable by 2017.