Opera surges on FB takeover rumour

2012-05-29 14:50

Cape Town - Shares in Opera Software have surged by 26% on rumours that Facebook is looking to buy the browser manufacturer.

According to a Guardian report, the rumours that Facebook will buy Opera has sent the share price of the Norway-based company up by 26% on Tuesday.

Opera is the most popular browser on mobile devices and enjoys a particularly strong lead in developing markets where the software allows an up to 90% shrinking of web pages' data footprint for display on a cellphone.

Opera would not confirm nor deny the rumour.

"We never comment on market rumours," the company told News24.

The firm was valued at $800m on Tuesday.

"In our view, a bid for Opera makes strategic sense for Facebook, and we have previously discussed the possibilities for co-operation between the two companies," an analyst at Norwegian bank DNB said.

Facebook has been widely rumoured to be building its own smartphone for release in 2013 and analysts have speculated that social networking titan will use the smartphone to bolster its advertising footprint.

The social network is flush with cash after its public offering and reports have indicated that it may be on a shopping spree.

According to Israeli business publication Calcalist, Facebook is in negotiations to acquire facial-recognition technology company Face.com for between $80m to $100m.

Facebook has been stung after its hyped initial public offering with a share price that has slumped, resulting in lawsuits amid concerns that information about the company outlook may have been hidden from investors.

The platform, which boosts over 900 million global users, has come in for some criticism that it has not moved fast enough to deliver effective advertising on mobile platforms.

Opera makes desktop as well as mobile browsers, and while the desktop arena is dominated by Google's Chrome browser, Opera Mini is used by over 250 million users, particularly in developing markets each month.

Read more on:    opera  |  facebook  |  social networks  |  mobile
NEXT ON NEWS24X

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
2 comments
Add your comment
Comment 0 characters remaining
 

Inside News24

 
 
Traffic
Lottery
 
  • Wednesday Delft - 20:37 PM
    Road name: R300 Southbound
    ROADWORKS - left lane closed at Hindle Road
  • Wednesday Sir Lowry's Pass - 17:57 PM
    Road name: Old Sir Lowrys Pass Road
    TRAFFIC LIGHTS not working at Bezweni Road
 
More traffic reports...
 

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Escape winter, head to Mauritius

Escape winter by spending 7 nights in Mauritius' tropical bliss from R13 215 per person sharing. Includes return flights, airport transfers and accommodation. Book now!

Kalahari.com - shop online today

Get many eggs in one basket!

Gaming bundles: 2 Super Hits games for R99, 3 Disney games for R99 and more + exclusive accessory bundles only available on kalahari.com. While stocks last. Shop now!

25% off bestselling books!

The Real Meal Revolution by Tim Noakes, Jeffrey Archer’s Be Careful What You Wish for, Man’s Search for Meaning by Victor E. Frank and many more titles. Shop now!

Up to 25% off electronics

Buy top electronics and save up to 25%. Such as kalahari.com’s 1# selling product the gobii eReader, Patriot X Porter flash drive, Asus Nexus 7” 3G tablet, Samsung Galaxy SIII, Lenovo G580 Notebook and many more. Shop now!

DStv HD PVR Decoder now R949

The DStv HD PVR Decoder has further revolutionised the television experience with lifelike viewing, sharper images, more vibrant colours and precision picture quality. Now R949, save R550. Offer valid while stocks last. Shop now!

Up to 30% off appliances & homeware

Save up to 30% on appliances and homeware this Easter! Offer valid while stocks last. Shop now.

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

BlackBerry Bold 9790

Bold Design The BlackBerry Bold 9790 smartphone combines the iconic BlackBerry...

From R2979.00

I'm shopping for:

Horoscopes
Aquarius
Aquarius

You may be required to travel or get information for your job. This may be restricting in some way or something may slow things...read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.