I don't see how the desktop browser would make money, but Opera Mini is preinstalled on a large number of low-end devices. I imagine these bundling deals are quite profitable to the company, since Opera Mini is seeing a lot of use on those low-end phones.

Wikipedia has some recent numbers: "In February 2013, Opera reported 300 million unique Opera Mini active users and 150 billion page views served during that month." [1]

[1] http://en.wikipedia.org/wiki/Opera_Mini

Looking in there quarterly report for 4Q 2012 it looks like they can afford this. According to it revenue for 2012 as a whole appeared to be $216 millions, earnings before interest and taxes (EBIT) was $50 millions[0].

Also, according to an article in Digi.no[1] $100 million is borrowed in the bank. The total price is up to $155 million, but is dependent on an earn-out, so maybe the full sum isn't payable yet?

0: http://media.opera.com/media/finance/2012/4Q12.pdf

1: http://www.digi.no/911670/opera-kjoper-opp-konkurrenten

Opera also own the ad network AdMarvel, I seem to recall an article regarding their profits. A large chunk of Opera Softwares revenue comes from AdMarvel, in addition to their license sales.

licensing fees mostly. they have sales of roughly $200 million a year. not sure about profit though but I assume they are profitable and they can get additional funding from stock market by selling some shares.

They're listed on the Oslo Stock Exchange, with a market cap of approximately $770 million, so financing a $155 million acquisition doesn't seem like it'd be a problem.