July 9, 2020 / 9:11 AM / a month ago

Norwegian software firm Opera buys Lithuania's Fjord Bank

July 9 (Reuters) - Norwegian software company Opera said on Thursday it has agreed to purchase Lithuania-based Fjord Bank for an undisclosed sum as it seeks to accelerate a move into mobile financial services.

Fjord Bank, which is due to launch its first deposit and loan service in the coming months, was granted a specialised bank licence by the European Central Bank last year.

Opera, best known for its mobile web browsers, said it acquired a 9.9% interest in Fjord via a share subscription, while completion of the acquisition of the remaining 90.1% of Fjord is pending regulatory approval.

Opera entered the European financial services sector this year through its acquisition of the digital wallet and payment technology of Estonian fintech company PocoSys. (Reporting by Tarmo Virki in Tallinn; editing by Jason Neely and Emelia Sithole-Matarise)

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