Opera Software today announced that it has acquired a Silicon Valley based mobile video optimization company Skyfire Labs. The company headquartered in Mountain View, California know for its Rocket Optimizer software. Skyfire also offers Skyfire Horizon, a mobile browser extension and toolbar platform.
“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.”
The acquisition comprises of both cash and stock, 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, bringing the total deal size to $155 million. The Opera acquisition of Skyfire is expected to close before March 15, 2013.