* Says has interest from a number of parties
* 2015 revenue now forecast lower at $600 mln to $618 mln
* Opera buys Bemobi, a Latam app subscription service
OSLO, Aug 8 Online advertising and browser firm
Opera Sofware is considering a sale of the company
after missing second-quarter revenue forecasts and cutting its
full-year expectations, the board of the Norwegian company said
The search for a buyer, or other forms of partnership, comes
"in response to strategic interest in the company from a number
of parties", and will be aided by bankers at Morgan Stanley
International and ABG Sundal Collier, it added in a statement.
The strategic review will be concluded in the second half of
In a separate announcement, Opera said preliminary numbers
showed its second-quarter revenues had grown by 45 percent
year-on-year to $146 million, below all forecasts in a Reuters
poll of seven analysts, which showed a mean prediction of 51
The firm expected adjusted earnings before interest, tax,
depreciation and amortisation (EBITDA) of $29 million, while
analysts on average had expected earnings of $30.6 million.
The miss was caused by weaker than expected performance in
Opera's mobile advertising business, the firm said.
Opera now expects 2015 revenues of approximately $600
million-$618 million, below a prior guidance of $630
million-$650 million. Analysts in the Reuters poll had forecast
revenues of $642 million, up from $481 million in 2014.
The company's expectations for adjusted full-year EBITDA was
cut to a range of $108 million-118 million from $130 million-140
million previously, while analysts on average forecast $124
It was the second time in six months that Opera sharply cut
its outlook. In February, the firm's shares fell by 44 percent
in one day following a warning of lower growth.
Simultaneously on Saturday, Opera announced the acquisition
of Bemobi, a Latin American subscription service for mobile apps
and games, for up to $139.5 million, of which $29.5 million was
paid cash and the rest linked to Bemobi's future financial
"The entire earn-out payment, which is tied to aggressive
performance targets will be paid out from actual free cash flow
generated from the Bemobi products and services, meaning that
the transaction will be self-funded after closing," it added.
Opera's shares on Friday closed at 61.1 Norwegian crowns in
Oslo, valuing it at 8.89 billion Norwegian crowns ($1.08
($1 = 8.2694 Norwegian crowns)
(Reporting by Terje Solsvik; Editing by Alison Williams)