Opera TV was set up to develop cloud and embedded software to enable the TV and media industry’s transition to over-the-top (OTT) content with the parent company’s software platform seeing use to connect the various supported video devices such as smart TVs, Blu-ray disc players, set-top boxes and video game consoles. Opera TV’s major customers include consumer electronics companies such as Sony, Samsung, TiVo, Verizon and Sagemcom, and it serves customers across the globe in Asia, Europe, North America and South America.

The acquisition is the first by Moore Frères, which launched in 2014 by experienced technology, media and telecommunications (TMT) investors and business leaders previously with Viacom Inc. The investment holding company was created with a vision to acquire and transform high potential TMT companies for long-term growth in the rapidly changing connected economy.

“Moore Frères has impressive TMT and operational expertise that will help Opera TV expand its offering and serve a broader array of customers worldwide,” remarked Opera Software chief executive officer Lars Boilesen. “The Opera TV business has significant potential to drive continued innovation and unlock the full potential of the connected TV. We are pleased to retain a minority stake to benefit from the company’s continued growth and success.”

Aneesh Rajaram, who served as general manager of the Opera TV business unit, will continue to lead the business as CEO post-transaction. “This marks an important milestone in Opera TV’s journey, and will accelerate the development of market-leading products that can better serve our customers and partners,” he added. “The TV industry is witnessing its largest shift ever, as consumers worldwide embrace OTT content at unprecedented speeds. We’re now delighted to avail ourselves of Moore Frères’ deep industry expertise to help us maintain our leadership by navigating this complex landscape more efficiently.”