Opera has sold its browser business, privacy and performance apps, its tech licensing, and its name to a Chinese consortium.
Security firm Qihoo 360 are purchasing the assets for $600 million (R8.6 billion), while Opera will keep its consumer division, including Opera Apps & Games and Opera TV.
The company has not stated what will happen to its employees, 1,109 of whom may be affected by the deal.
Opera has 18 months to find a new name, according to reports.
March 2016 data from NetMarketShares showed that Opera was the fifth most popular Internet browser in the world.