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{{Infobox company
⚫
#REDIRECT [[Opera Software]]
| name = Otello Corporation ASA
| logo = Logo Otello Corp.jpg
| logo_caption = Current logo of Otello Corp.
⚫
| former_name = Opera Software ASA
| type = [[Public company|Public]]
| traded_as = {{ose|OTELLO}}
| ISIN = NO0010040611
| industry = {{Unbulleted list|Software|Internet|Advertising}}
| founded = {{Start date and age|1994}} in [[Oslo]], Norway<ref name="bberg"></ref>
| hq_location = Oslo, Norway
| area_served = {{Unbulleted list|[[Americas]]|[[Europe]]|[[Middle East]]|[[Africa]]|[[Asia Pacific]]}}<ref name="bberg"></ref>
| key_people = {{Unbulleted list|Lars Rabaek Boilesen ([[Chief executive officer|CEO]])|Petter Lade ([[Chief Financial Officer|CFO]] & Head-[[Investor Relations]])|Roar Olbergsveen ([[Chief Accounting Officer|CAO]])|Andrzej Dzius ([[Chief Technology Officer|CTO)]]}}<ref>{{cite web|title=OTELLO.OL Profile {{!}} OTELLO CORPORATION Stock|url=https://finance.yahoo.com/quote/OTELLO.OL/profile?p=OTELLO.OL|website=[[Yahoo Finance]]}}</ref>
| services = {{Unbulleted list|[[Online advertising]]|[[Mobile apps]]|Data optimization}}
| revenue = {{Unbulleted list|{{decrease}} [[US$]]99.2 million (2017)|US$142.5 million (2016)}}<ref name="OTLreport">{{cite web|title=Quarterly Report 4Q 2017 Otello Corporation Asa|url=https://otello.cdn.prismic.io/otello%2F2a1adb6a-7cf7-496e-877a-539535f8061c_4q17.pdf|website=otello.cdn.prismic.io|accessdate=21 April 2018}}</ref>
| net_income = {{Unbulleted list|{{decrease}} -US$15.4 million (2017)|-US$30.3 million (2016)}}<ref name="OTLreport"></ref>
| assets = {{Unbulleted list|{{decrease}} US$636.5 million (2017)|US$836.9 million (2016)}}<ref name="OTLreport"></ref>
| divisions = {{Unbulleted list|Business sales||Information technologies}}
| subsid = {{Unbulleted list|AdColony Inc.|Bemobi Midia e Entretenimento Ltda.|[[Skyfire (company)|Skyfire Labs]]}}<ref name="reut"></ref>
| website = {{URL|otellocorp.com}}
}}


'''Otello Corporation ASA''' (formerly ''Opera Software ASA'') is a [[Norway|Norwegian]] internet company which develops advertising and mobile solutions for operators, publishers and advertisers.<ref name="bberg">{{Cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=532001|title=Otello Corporation ASA: Private Company Information|last=|first=|date=|website=bloomberg.com|archive-url=|archive-date=|dead-url=|access-date=2018-04-21}}</ref> It operates through its subsidiaries which include [https://www.adcolony.com/ AdColony] (formerly ''Opera Mediaworks'') a mobile advertising platform and network, [https://www.bemobi.com.br/ Bemobi] a subscription-based mobile application and game discovery service, and [[Skyfire (company)|Skyfire Labs]] which provides [[Mobile network operator|mobile operators]] [[Cloud computing|cloud]] based access for network management and video optimization, and advertising facilitation.<ref name="reut">{{Cite web|url=https://www.reuters.com/finance/stocks/companyProfile/OPERA.Sp|title=Otello Corporation ASA Company Profile|date=|website=Reuters.com|language=en|archive-url=|archive-date=|dead-url=|access-date=2018-04-21}}</ref>
{{R from move}}

{{r from former name}}
Opera Software ASA was founded as a holding company for [[Opera (web browser)|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 to a Chinese consortium of investors.<ref>{{Cite news|url=https://thenextweb.com/tech/2017/12/18/opera-software-rebrands-otello-corporation-selling-browser-business/|title=Opera Software ASA rebrands to Otello Corporation after selling its browser business (UPDATE)|last=Hughes|first=Matthew|date=2017-12-18|work=The Next Web|access-date=2018-04-21|language=en-US}}</ref> 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.<ref>{{Cite news|url=https://www.bloomberg.com/news/articles/2016-07-18/opera-scraps-sale-says-chinese-group-will-buy-browser-business|title=Opera Plunges as $1 Billion Buyout by Chinese Group Fails to Get Approval|date=2016-07-18|work=Bloomberg.com|access-date=2018-04-21|language=en}}</ref>

== Acquisitions ==
On 20 January 2010, Opera Software{{refn|group=note|name=OTL|Now Otello Corporation.}} announced that it had acquired AdMarvel, Inc.<ref>{{Cite news|url=https://techcrunch.com/2010/01/20/opera-buys-admarvel/|title=Opera Buys Mobile Ad Startup AdMarvel For $8M In Cash Plus A $15M Earnout|last=Wauters|first=Robin|work=TechCrunch|access-date=2018-02-26|language=en}}</ref>

On 30 April 2010, Opera Software{{refn|group=note|name=OTL}} acquired Australian web email provider [[FastMail]].<ref>[http://www.opera.com/press/releases/2010/04/30/ Opera acquires FastMail.fm], URL accessed on April 30, 2010</ref> In September 2013, the staff of FastMail bought the company back from Opera Software.<ref>{{cite web|url=http://blog.fastmail.com/2013/09/25/exciting-news-fastmail-staff-purchase-the-business-from-opera/|title=Exciting news: FastMail staff purchase the business from Opera|author=Rob Mueller|date=25 September 2013|publisher=[[FastMail]]|accessdate=3 March 2015}}</ref>

On 19 September 2011, Opera Software{{refn|group=note|name=OTL}} announced that it had acquired mobile application platform [[Handster]], the leading independent app store for Android apps at that time,<ref>{{cite web|url=http://mashable.com/2011/09/19/opera-acquires-handster/|title=Opera Buys Top Mobile App Store Handster|author=Jennifer Van Grove|date=19 September 2011|publisher=[[Mashable]]|accessdate=20 December 2012}}</ref> in order to strengthen the [[Opera Mobile Store]]'s offerings to consumers, mobile operators and handset manufacturers.<ref name="acquisition of Handster — Opera">{{cite press release|title=Opera acquires Handster Inc.|date=19 September 2011|publisher=Opera Software ASA|url=http://www.opera.com/press/releases/2011/09/19/|accessdate=20 December 2012|work=Opera Press Releases}}</ref>

On 15 February 2013, Opera Software{{refn|group=note|name=OTL}} announced that it had acquired [[Skyfire (company)|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.<ref name="opera-acquisition">{{cite web|url=https://www.pcmag.com/article2/0,2817,2415500,00.asp|title=Opera Eyes Speedier Mobile Web With Skyfire Acquisition|publisher=PC Magazine|accessdate=15 February 2013}}</ref>

On 4 June 2014, Opera Software{{refn|group=note|name=OTL}} announced that it is acquiring [[AdColony]] to bolster its mobile video ad capabilities. Opera paid $75 million in cash for AdColony, plus potential [[Earnout|earn-out]] payments of up to $275 million.<ref>{{cite web|url=https://blogs.wsj.com/cmo/2014/06/24/opera-buys-mobile-video-ad-firm-adcolony/|title=Opera Buys Mobile Video Ad Firm AdColony|publisher=Wall Street Journal|accessdate=24 June 2014}}</ref> In December 2017, AdColony CEO, Will Kassoy stepped down from his position and was replaced by Otello CEO, Lars Boilesen.<ref>{{Cite web|url=https://in.reuters.com/finance/stocks/OTELLO.OL/key-developments/article/3735479|title=Stock Quote News - Stock Market Quotes, Online Stock Quotes, India|last=Editorial|first=Reuters|website=IN|language=en-IN|access-date=2018-02-26}}</ref>

In March 2015, Opera Software{{refn|group=note|name=OTL}} acquired the Canadian [[VPN]] company, SurfEasy and later integrated the SurfEasy VPN into Opera as a free and unlimited service for its users.<ref>{{cite web|url=https://www.opera.com/blogs/desktop/2016/04/free-vpn-integrated-opera-for-windows-mac/|title=Free VPN integrated in Opera for better online privacy|last1=Kolondra|first1=Krystian|date=20 April 2016|website=Opera Desktop Blog|accessdate=18 October 2016}}</ref>

== Divestitures ==
<p>On 20 December 2016, control of Opera TV AS was sold to Moore Frères & Company.<ref>{{cite press release|title=Global Leader in enabling OTT, Opera TV, acquired by Frères & Company|date=20 December 2016|publisher=Moore Frères & Company|location=New York City|url=http://www.moorefreres.com/content/uploads/2017/07/Press-Release-GLOBAL-LEADER-IN-ENABLING-OTT-OPERA-TV-ACQUIRED-BY-MOORE-FRÈRES-COMPANY.pdf|access-date=21 November 2017|author=<!--Staff writer(s); no by-line.-->}}</ref><ref>{{cite web|url=http://www.newsweb.no/newsweb/search.do?messageId=416481|title=Opera divests its connected TV business|date=20 December 2016|publisher=Oslo Stock Exchange|access-date=21 November 2017}}</ref></p><p>On 6 November 2017, Opera Software 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.<ref>{{cite web|url=http://www.newsweb.no/newsweb/search.do?messageId=438013|title=Opera divests SurfEasy business|date=6 November 2017|publisher=Oslo Stock Exchange|access-date=21 November 2017}}</ref></p>
==Notes==
{{reflist|group=note}}

==References==
{{Reflist}}

==External links==
*{{Official website|otellocorp.com}}
*[http://www.hoovers.com/company-information/cs/company-profile.opera_software_asa.29138b8233e6eccf.html Otello Corp. at Hoovers]
{{Finance links
|name = Otello Corporation ASA
|symbol = OTELLO
|yahoo = OTELLO.OL
|bloomberg = OTELLO:NO
}}

[[Category:Companies based in Oslo]]
[[Category:Companies listed on the Oslo Stock Exchange]]
[[Category:Otello Corporation| ]]
[[Category:Software companies of Norway]]

Revision as of 23:00, 21 April 2018

Otello Corporation ASA
FormerlyOpera Software ASA
Company typePublic
OSE: OTELLO
ISINNO0010040611
Industry
  • Software
  • Internet
  • Advertising
Founded1994; 30 years ago (1994) in Oslo, Norway[1]
HeadquartersOslo, Norway
Area served
[1]
Key people
[2]
Services
Revenue
  • Decrease US$99.2 million (2017)
  • US$142.5 million (2016)
[3]
  • Decrease -US$15.4 million (2017)
  • -US$30.3 million (2016)
[3]
Total assets
  • Decrease US$636.5 million (2017)
  • US$836.9 million (2016)
[3]
Divisions
  • Business sales
  • Information technologies
Subsidiaries
  • AdColony Inc.
  • Bemobi Midia e Entretenimento Ltda.
  • Skyfire Labs
[4]
Websiteotellocorp.com

Otello Corporation ASA (formerly Opera Software ASA) is a Norwegian internet company which develops advertising and mobile solutions for operators, publishers and advertisers.[1] 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.[4]

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 to a Chinese consortium of investors.[5] 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.[6]

Acquisitions

On 20 January 2010, Opera Software[note 1] announced that it had acquired AdMarvel, Inc.[7]

On 30 April 2010, Opera Software[note 1] acquired Australian web email provider FastMail.[8] In September 2013, the staff of FastMail bought the company back from Opera Software.[9]

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,[10] in order to strengthen the Opera Mobile Store's offerings to consumers, mobile operators and handset manufacturers.[11]

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.[12]

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.[13] In December 2017, AdColony CEO, Will Kassoy stepped down from his position and was replaced by Otello CEO, Lars Boilesen.[14]

In March 2015, Opera Software[note 1] acquired the Canadian VPN company, SurfEasy and later integrated the SurfEasy VPN into Opera as a free and unlimited service for its users.[15]

Divestitures

On 20 December 2016, control of Opera TV AS was sold to Moore Frères & Company.[16][17]

On 6 November 2017, Opera Software 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.[18]

Notes

  1. ^ a b c d e f Now Otello Corporation.

References

  1. ^ a b c "Otello Corporation ASA: Private Company Information". bloomberg.com. Retrieved 2018-04-21. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  2. ^ "OTELLO.OL Profile | OTELLO CORPORATION Stock". Yahoo Finance.
  3. ^ a b c "Quarterly Report 4Q 2017 Otello Corporation Asa" (PDF). otello.cdn.prismic.io. Retrieved 21 April 2018.
  4. ^ a b "Otello Corporation ASA Company Profile". Reuters.com. Retrieved 2018-04-21. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  5. ^ Hughes, Matthew (2017-12-18). "Opera Software ASA rebrands to Otello Corporation after selling its browser business (UPDATE)". The Next Web. Retrieved 2018-04-21.
  6. ^ "Opera Plunges as $1 Billion Buyout by Chinese Group Fails to Get Approval". Bloomberg.com. 2016-07-18. Retrieved 2018-04-21.
  7. ^ Wauters, Robin. "Opera Buys Mobile Ad Startup AdMarvel For $8M In Cash Plus A $15M Earnout". TechCrunch. Retrieved 2018-02-26.
  8. ^ Opera acquires FastMail.fm, URL accessed on April 30, 2010
  9. ^ Rob Mueller (25 September 2013). "Exciting news: FastMail staff purchase the business from Opera". FastMail. Retrieved 3 March 2015.
  10. ^ Jennifer Van Grove (19 September 2011). "Opera Buys Top Mobile App Store Handster". Mashable. Retrieved 20 December 2012.
  11. ^ "Opera acquires Handster Inc". Opera Press Releases (Press release). Opera Software ASA. 19 September 2011. Retrieved 20 December 2012.
  12. ^ "Opera Eyes Speedier Mobile Web With Skyfire Acquisition". PC Magazine. Retrieved 15 February 2013.
  13. ^ "Opera Buys Mobile Video Ad Firm AdColony". Wall Street Journal. Retrieved 24 June 2014.
  14. ^ Editorial, Reuters. "Stock Quote News - Stock Market Quotes, Online Stock Quotes, India". IN. Retrieved 2018-02-26. {{cite web}}: |first= has generic name (help)
  15. ^ Kolondra, Krystian (20 April 2016). "Free VPN integrated in Opera for better online privacy". Opera Desktop Blog. Retrieved 18 October 2016.
  16. ^ "Global Leader in enabling OTT, Opera TV, acquired by Frères & Company" (PDF) (Press release). New York City: Moore Frères & Company. 20 December 2016. Retrieved 21 November 2017.
  17. ^ "Opera divests its connected TV business". Oslo Stock Exchange. 20 December 2016. Retrieved 21 November 2017.
  18. ^ "Opera divests SurfEasy business". Oslo Stock Exchange. 6 November 2017. Retrieved 21 November 2017.

External links

source: https://en.wikipedia.org/w/index.php?title=Otello_Corporation&diff=prev&oldid=837615391

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