Norway based Tech firm, Opera Software released a statement stating that they will no longer be in buying or selling of firms and would rather continue with building mobile ad units. This move came forward after the diversification of a key business, according to a statement given by company’s Chief Executive Officer Lars Boilesen to Reuters.
Boilesen has been with Opera since 2010 and since then he has evolved the firm in a big number by doing a lot of acquisitions for strengthening this firm. The whole of the company was on sale in 2015 but sadly only the browser segment and the network related businesses were sold leaving behind the rest of the firm unsold.
According to Boilesen around $600 million has been finalized in November this year during divesting the firm and he states that none of this money is going to be spent over buying more of the companies.
The company would be using a big part of this money in dividend and share buybacks. He told Reuters, “New acquisitions from our side are highly unlikely.”
According to a report he also dismissed suggestions from some analysts to sell the mobile advertising unit soon.
He stated, “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.”
He states that Skyfire which is Opera’s one of the latest acquisitions would be seeing a great future. Skyfire is a an online cloud-based service for operators of mobile phone networks.