Moore Frères acquired a majority, controlling stake in Opera TV, an independent developer of cloud and embedded software that enables the TV and media industry’s transition to over-the-top (OTT) content, whereby video can be streamed directly to consumers’ living rooms via the internet.

Morgan Stanley Senior Funding and Morgan Stanley Credit Partners provided financing for the transaction.

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.

Martez R. Moore, chairman and CEO of Moore Frères, said, “Consumers are increasingly demanding internet content on their TVs and Opera TV is well-positioned as the leading independent provider of software for this fast-growing space. Opera TV’s suite of products allows TV and set-top-box manufacturers to add the technology and capability to stream the internet to the most important and largest screen in the home.”

The acquisition is the first by Moore Frères, which launched in 2014 by technology, media and telecommunications (TMT) investors and business leaders previously with Viacom. 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.

Aneesh Rajaram, who served as general manager of the Opera TV Business Unit, said, “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.”

Moore Frères was advised by a cross-border legal team led by A. Mark Getachew of Willkie Farr & Gallagher, as well as financial advisor Quintus Partners and accounting firm BDO. Opera was advised by Carnegie Investment Bank.

Moore Frères is a New York-based investment holding company focused on acquiring established companies across the global technology, media and telecommunications sector.