The $1.24 billion takeover of Opera Software by a Chinese consortium of internet firms has failed, Opera said on Monday. The deal did not receive the required regulatory approval in time of a final deadline. But they will be doing some business. The consortium will now acquire only certain parts of Opera’s consumer business, including its mobile and desktop browsers, for $600 million on an enterprise value basis. Tech.eu reports: What will not be acquired by the consortium is: Opera Mediaworks, Apps & Games and Opera TV. In 2015, Opera says these business units combined delivered revenues of $467 million. The company will report second-quarter results on August 31, 2016.
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