:Otello Corporation
{{Short description|Norwegian internet company}}
{{Infobox company
| name = Otello Corporation ASA
| logo = Logo Otello Corp.jpg
| logo_caption = Current logo of Otello Corp.
| former_name = Opera Software ASA (1995-2016)
| traded_as = {{ose|OTELLO}}
| ISIN = NO0010040611
| industry = {{Unbulleted list|Software|Internet|Advertising}}
| founded = {{Start date and age|1995|6|22|df=y}} in Oslo, Norway{{cite web|title=Nøkkelopplysninger fra Enhetsregisteret|url=https://w2.brreg.no/enhet/sok/detalj.jsp?orgnr=974529459|website=w2.brreg.no|publisher=Brønnøysund Register Centre|accessdate=14 May 2018|language=no}}
| successor =
| hq_location = Oslo, Norway
| area_served = {{Unbulleted list|Americas|Europe|Middle East|Africa|Asia–Pacific}}
| key_people = {{Unbulleted list|Lars Boilesen (CEO)|Petter Lade (CFO & Head-Investor Relations)|Roar Olbergsveen (CAO)|Andrzej Dzius (CTO)}}{{cite web|title=OTELLO.OL Profile {{!}} OTELLO CORPORATION Stock|url=https://finance.yahoo.com/quote/OTELLO.OL/profile?p=OTELLO.OL|website=Yahoo Finance}}
| services = {{Unbulleted list|Online advertising|Mobile apps|Data optimization}}
| revenue = {{Unbulleted list|{{decrease}} US$99.2 million (2017)|US$142.5 million (2016)}}{{cite web|title=Quarterly Report 4Q 2017 Otello Corporation Asa|url=https://otello.cdn.prismic.io/otello%2F2a1adb6a-7cf7-496e-877a-539535f8061c_4q17.pdf|website=otello.cdn.prismic.io|accessdate=21 April 2018}}
| net_income = {{Unbulleted list|{{decrease}} -US$15.4 million (2017)|-US$30.3 million (2016)}}
| assets = {{Unbulleted list|{{decrease}} US$636.5 million (2017)|US$836.9 million (2016)}}
| divisions = {{Unbulleted list|Business sales||Information technologies}}
| subsid = {{Unbulleted list|AdColony Inc.|Bemobi Midia e Entretenimento Ltda.|Skyfire Labs}}
| website = {{URL|https://otellocorp.com}}
}}
Otello Corporation ASA (formerly Opera Software ASA) is a Norwegian internet company which develops advertising and mobile software for operators, publishers and advertisers.{{Cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=532001|title=Otello Corporation ASA: Private Company Information|website=bloomberg.com|access-date=2018-04-21}} It operates through its subsidiaries which include AdColony (formerly Opera Mediaworks), a mobile advertising platform and network, Bemobi, a subscription-based mobile application and game discovery service, and Skyfire Labs, which provides mobile operators cloud based access for network management and video optimization, and advertising facilitation.{{Cite web|url=https://www.reuters.com/finance/stocks/companyProfile/OPERA.Sp|archive-url=https://web.archive.org/web/20180422062720/https://www.reuters.com/finance/stocks/companyProfile/OPERA.Sp|url-status=dead|archive-date=2018-04-22|title=Otello Corporation ASA Company Profile|website=Reuters.com|language=en|access-date=2018-04-21}}
Opera Software ASA was founded as a holding company for Opera products and businesses. It changed its name to Otello Corporation after it sold off its web browser and consumer business along with the Opera brand (Opera Software AS) to a Chinese consortium of investors.{{Cite news|url=https://thenextweb.com/tech/2017/12/18/opera-software-rebrands-otello-corporation-selling-browser-business/|title=Opera Software ASA rebrands to Otello Corporation after selling its browser business (update)|last=Hughes|first=Matthew|date=2017-12-18|work=The Next Web|access-date=2018-04-21|language=en-US}} While initially it planned to wholly sell itself off to the consortium the deal did not go through due to regulatory approvals, it settled by selling its consumer-facing web browser business instead.{{Cite news|url=https://www.bloomberg.com/news/articles/2016-07-18/opera-scraps-sale-says-chinese-group-will-buy-browser-business|title=Opera Plunges as $1 Billion Buyout by Chinese Group Fails to Get Approval|date=2016-07-18|work=Bloomberg.com|access-date=2018-04-21|language=en}}
Acquisitions
On 11 March 2004, the company was listed on the Oslo Stock Exchange with the ticker OPERA.
On September 20, 2005, Opera announced that they would remove the ad from the browser and make it free.
On 20 January 2010, Opera Software{{refn|group=note|name=OTL|Now Otello Corporation.}} announced that it had acquired AdMarvel, Inc.{{Cite news|url=https://techcrunch.com/2010/01/20/opera-buys-admarvel/|title=Opera Buys Mobile Ad Startup AdMarvel For $8M In Cash Plus A $15M Earnout|last=Wauters|first=Robin|work=TechCrunch|access-date=2018-02-26|language=en}}
On 30 April 2010, Opera Software{{refn|group=note|name=OTL}} acquired Australian web email provider FastMail.[http://www.opera.com/press/releases/2010/04/30/ Opera acquires FastMail.fm] {{Webarchive|url=https://web.archive.org/web/20120330165522/http://www.opera.com/press/releases/2010/04/30/ |date=2012-03-30 }}, URL accessed on April 30, 2010 In September 2013, the staff of FastMail bought the company back from Opera Software.{{cite web|url=http://blog.fastmail.com/2013/09/25/exciting-news-fastmail-staff-purchase-the-business-from-opera/|title=Exciting news: FastMail staff purchase the business from Opera|author=Rob Mueller|date=25 September 2013|publisher=FastMail|accessdate=3 March 2015}}
On 19 September 2011, Opera Software{{refn|group=note|name=OTL}} announced that it had acquired mobile application platform Handster, the leading independent app store for Android apps at that time,{{cite web|url=http://mashable.com/2011/09/19/opera-acquires-handster/|title=Opera Buys Top Mobile App Store Handster|author=Jennifer Van Grove|date=19 September 2011|publisher=Mashable|accessdate=20 December 2012}} in order to strengthen the Opera Mobile Store's offerings to consumers, mobile operators and handset manufacturers.{{cite press release|title=Opera acquires Handster Inc.|date=19 September 2011|publisher=Opera Software ASA|url=http://www.opera.com/press/releases/2011/09/19/|accessdate=20 December 2012|work=Opera Press Releases}}
On 15 February 2013, Opera Software{{refn|group=note|name=OTL}} announced that it had acquired Skyfire for $155 million. Opera primarily targeted the company for its video optimization technologies, such as its Rocket Optimizer platform, which would complement its own content optimization technologies.{{cite web|url=https://www.pcmag.com/article2/0,2817,2415500,00.asp|title=Opera Eyes Speedier Mobile Web With Skyfire Acquisition|publisher=PC Magazine|accessdate=15 February 2013}}
On 4 June 2014, Opera Software{{refn|group=note|name=OTL}} announced that it is acquiring AdColony to bolster its mobile video ad capabilities. Opera paid $75 million in cash for AdColony, plus potential earn-out payments of up to $275 million.{{cite web|url=https://blogs.wsj.com/cmo/2014/06/24/opera-buys-mobile-video-ad-firm-adcolony/|title=Opera Buys Mobile Video Ad Firm AdColony|publisher=Wall Street Journal|accessdate=24 June 2014}}
In March 2015, Opera Software{{refn|group=note|name=OTL}} acquired the Canadian VPN company, SurfEasy and later integrated the SurfEasy VPN into Opera as a free and unlimited service for its users.{{cite web|url=https://www.opera.com/blogs/desktop/2016/04/free-vpn-integrated-opera-for-windows-mac/|title=Free VPN integrated in Opera for better online privacy|last1=Kolondra|first1=Krystian|date=20 April 2016|website=Opera Desktop Blog|accessdate=18 October 2016}} On September 22, 2015, Opera announced that they would remove "Software" from its logo.{{Cite web |date=2015-09-22 |title=Meet the new Opera brand identity |url=https://blogs.opera.com/news/2015/09/opera-new-logo-and-brand-identity/ |access-date=2022-06-15 |website=Opera News |language=en-US}}
In December 2017, AdColony CEO, Will Kassoy stepped down from his position and was replaced by Otello CEO, Lars Boilesen.{{Cite web|url=https://in.reuters.com/finance/stocks/OTELLO.OL/key-developments/article/3735479|archive-url=https://web.archive.org/web/20180226152024/https://in.reuters.com/finance/stocks/OTELLO.OL/key-developments/article/3735479|url-status=dead|archive-date=2018-02-26|title=Stock Quote News - Stock Market Quotes, Online Stock Quotes, India|website=IN|language=en-IN|access-date=2018-02-26}}
In 2021, Digital Turbine Inc. is acquiring AdColony from Otello for $400 million.{{cite web |title=Otello sells AdColony to Digital Turbine |url=https://seekingalpha.com/pr/18209874-otello-announces-definitive-agreement-to-sell-adcolony-to-digital-turbine |publisher=Seeking Alpha |access-date=5 March 2021}}
Divestitures
On 20 December 2016, control of Opera TV AS was sold to Moore Frères & Company.{{cite press release|title=Global Leader in enabling OTT, Opera TV, acquired by Frères & Company|date=20 December 2016|publisher=Moore Frères & Company|location=New York City|url=http://www.moorefreres.com/content/uploads/2017/07/Press-Release-GLOBAL-LEADER-IN-ENABLING-OTT-OPERA-TV-ACQUIRED-BY-MOORE-FRÈRES-COMPANY.pdf|access-date=21 November 2017|author=}}{{cite web|url=http://www.newsweb.no/newsweb/search.do?messageId=416481|title=Opera divests its connected TV business|date=20 December 2016|publisher=Oslo Stock Exchange|access-date=21 November 2017}} On 15 September 2017, Opera TV AS changed its name to Vewd Software AS,{{cite press release|url=https://www.businesswire.com/news/home/20170915005347/en/Opera-TV-Vewd|title=Opera TV is Now Vewd}} which would later be acquired by Xperi in 2022.
On 6 November 2017, Opera Software{{refn|group=note|name=OTL}} divested its SurfEasy subsidiary by selling it to Symantec for $38.5 million all in cash.{{Cite web |title=Symantec acquires VPN software vendor SurfEasy for $50 million |url=https://www.crn.com.au/news/symantec-acquires-vpn-software-vendor-surfeasy-for-50-million-477094 |access-date=2022-06-15 |website=CRN Australia}} 85% of the payment was released on November 6, 2017 by Symantec with the remaining 15% remaining in escrow for up to 15 months. Specific earn-out targets were not publicly mentioned.{{cite web|url=http://www.newsweb.no/newsweb/search.do?messageId=438013|title=Opera divests SurfEasy business|date=6 November 2017|publisher=Oslo Stock Exchange|access-date=21 November 2017}}
Notes
{{reflist|group=note}}
References
{{Reflist}}
External links
- {{Official website}}
- [http://www.hoovers.com/company-information/cs/company-profile.opera_software_asa.29138b8233e6eccf.html Otello Corp. at Hoovers]
{{Finance links
|name = Otello Corporation ASA
|symbol = OTELLO
|yahoo = OTELLO.OL
|bloomberg = OTELLO:NO
}}
Category:Software companies established in 1995
Category:1995 establishments in Norway
Category:Companies based in Oslo