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TMCNet:  Investors group sells Skyfire Labs to Opera Software

[February 15, 2013]

Investors group sells Skyfire Labs to Opera Software

Feb 15, 2013 (Datamonitor Financial Deals Tracker via COMTEX) -- Skyfire Labs, Inc. has been acquired by Opera Software ASA, a Norway-based Opera Web browser for various platforms, operating systems and embedded internet products, in a cash and stock transaction.
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Skyfire is a US-based developer mobile video optimization and cloud solutions for mobility backed by investment firms Panorama Capital, Verizon Investments LLC, Matrix Partners, Trinity Ventures and Lightspeed Venture Partners.

The transaction is valued at approximately $155 million, with an upfront consideration of $50 million, which includes $8 million of cash on the Skyfire balance sheet, and performance based earn-out payments over three years, including $26 million in cash held in escrow and funded upfront.

The transaction is expected to close before March 15, 2013.

Deal Value (US$ Million) 155 Deal Type Venture Finance Sub-Category Exit Deal Status Announced: 2013-02-15 Deal Participants Target (Company) Skyfire Labs, Inc.

Acquirer (Company) Opera Software ASA Vendor (Company) Undisclosed Investors* Deal Rationale The acquisition will allow Opera to broaden its mobile operator solutions beyond the browser and strength its position in North America.

It will also allow Opera to add Skyfire's video-optimization and smart phone monetization products to its operator business unit.

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