Mobile browser maker Opera Software is considering a possible sale following a cut in its full-year guidance.
Opera revealed in a statement on Friday that it has received strategic interest from a number of parties. It has therefore "initiated a process to evaluate and consider strategic alternatives for the company, with the objective of further enhancing shareholder value."
Opera’s board has appointed ABG Sundial Collier and Morgan Stanley International as advisors. It expects to complete the review during the second half of 2015.
"Opera will update shareholders and other stakeholders about the outcome of the review in due course," the company said.
The announcement was made the same day that Opera cut its full-year revenue and earnings guidance.
Opera expects to generate US$600 million-$680 million in revenue, up from $480 million in 2014, but considerably less than the $630 million-$650 million in its prior outlook.
Adjusted EBITDA is expected to fall in the $108 million-$118 million range, down from its previous guidance of $130 million-$140 million.
The guidance cut is based on weaker-than-expected performance in Opera’s mobile advertising division, the company said.
Also on Friday, Opera announced it has agreed to acquire Brazil-based Bemobi, which provides a subscription-based Android app store.
Rather than buy apps individually, Bemobi customers pay a monthly fee to access the company’s app store, which offers a raft of premium apps. The subscription fee can be added to a phone bill or debited from a user’s prepay balance. So far the service has attracted 6 million customers.
The benefit for developers is a new channel to market giving them a better chance of monetising their apps.
Opera paid $29.5 million up front, and has agreed to pay another $81 million based on Bemobi’s performance between 2015 and 2019. A further $29 million will be paid should Bemobi exceed its adjusted EBITDA targets during this timeframe.
The transaction closed on Friday.
