|
|
Opera Software Buys Mobile Video Compression Software House
Published on:
Opera Software announced today that it has acquired the USA based video compression software firm, Skyfire Labs for up to US$155 million.
Skyfire is known for its Rocket Optimizer software, which on average provides mobile networks a 60 percent boost in capacity by reducing the size of video and other multimedia content as needed to fit the available bandwidth. Skyfire can detect when specific users are facing poor quality of experience or connections that need assistance, and intervene in milliseconds.
Skyfire currently counts three large U.S. mobile operators as customers for its Rocket Optimizer and Skyfire Horizon solutions, and is in trials with ten other operators around the world.
"Opera and Skyfire are a natural fit," said Lars Boilesen, CEO, Opera Software. "Both companies have evolved far beyond their browser roots. Skyfire adds capabilities to our portfolio around video, app optimization, smartphones and tablets, and strength in North America. With video expected to consume over two-thirds of global mobile bandwidth by 2015, and as time spent on Android and iOS apps explodes, we are excited to extend Opera's solutions for operators."
Skyfire will remain an independent entity as a wholly-owned subsidiary of Opera, and will continue to develop and support the Skyfire browser.
The acquisition price includes a mix of cash and stock, with an upfront consideration of US$50 million (including US$8 million of cash on the Skyfire balance sheet) and performance based earn-out payments over three years, including US$26 million in cash held in escrow and funded upfront, that can bring the total deal size to $155 million.
The Opera acquisition of Skyfire is expected to close before March 15, 2013.
Tags: [opera software] [mobile video]
|
| |
|
| |
|
| |
|
| |