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Qihoo 360 Interested In Opera Software? Deal Might Make Sense, Analysts Say

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Qihoo 360 Interested In Opera Software? Deal Might Make Sense, Analysts Say

On Thursday night, E24 reported Opera Software (OTC: OPESY) shares were halted in Norway pending a company announcement. Speculation from the report is that Qihoo 360 Technology Co Ltd (NYSE: QIHU) may be interested in the security company.

Analysts Benzinga spoke with who wish to remain anonymous said a deal might make sense under $500 million, adding that Qihoo may only be interested in Opera's mobile platform.  Aside from that, the deal does not make much sense given China's restrictions on who can sell security products within the country.

Chinese regulators have reportedly been cracking down on foreign investor ownership of Chinese National financial institutions and security firms.

Neither company immediately responded to a request for comment.

Shares of Qihoo are trading down 0.40 percent on Friday morning, while shares of Opera are up 5.4 percent on the Oslo exchange.

Latest Ratings for QIHU

DateFirmActionFromTo
May 2016Stifel NicolausUpgradesHoldBuy
Mar 2016Summit Research PartnersTerminatesBuy
Apr 2015Summit Research PartnersInitiates Coverage onBuy

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