Opera Software has acquired Skyfire Labs, which provides mobile video optimisation tools and cloud-based solutions for mobility.
Opera Software is expected to complete the acquisition by March 15, 2013 and the deal is reportedly valued at $155 million. The acquisition cost includes a mix of cash and stock.
This comprises an upfront consideration of $50 million (including $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.
Once the deal is concluded, Jeffrey Glueck, chief executive officer, Skyfire Labs will assume the roles of executive vice president, operator business, Opera Software and the chief executive officer of Skyfire.
