Opera Software ASA rebrands to Otello Corporation
Opera Software ASA, the part of Opera Software that remained after the company sold the web browser and other bits of the consumer business to a Chinese consortium, announced today the rebranding to Otello Corporation.
A group of investors from China made an offer for the whole company back in February 2016 for $1.2 billion US Dollars but the deal did not get regulatory approval. The deal was changed, as is the case often when that happens, and a Chinese consortium of investors, Golden Brick Capital Private Equity Fund, announced in July 2016 that it wanted to acquire the Opera Software consumer business for $600 million US Dollars instead.
The deal was approved on October 2016, and ownership of all Opera consumer products, most notable the Opera browser, Opera Mini, but also other apps, as well as the Opera brand name, were now owned by Golden Brick Capital Private Equity Fund.
Opera Software ASA was not part of the deal which more or less meant the company's advertising business and other corporate assets. Opera Software ASA had to change the name of the company after a transition period as it was part of the deal with the Chinese consortium.
Today, Opera Software ASA announced the change of the company name to Otello Corporation on the official Opera Twitter account and elsewhere.
Opera Software AS, the company that makes the Opera desktop and mobile web browser, and the Opera web browser, will keep the names. Nothing changes for users of the Opera web browser name-wise.
The name change was part of the deal, and removes the association with the Opera brand. An indirect association remains however, as Otello is an opera by Guiseppe Verdi based on Shakespear's Othello.
The move does not change the fact that Opera Software AS's parent company is the Chinese consortium. Opera Software AS is headquartered in Oslo, Norway.
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