The company announced that it is going to adopt the WebKit engine for all of its browsers on mobile platforms, something not particularly surprising, but also that it is stopping development of its desktop browser and will start supporting Chromium, the open source version of Chrome.
Basically, this means that Opera will no longer be developing its own HTML layout engine, Presto, and that it will slap an Opera label on Chromium and call that its desktop browser.
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In the mobile space, it will be just another company that takes the WebKit engine and slaps some UI elements on top of it. There are now only four major browser makers in the world, Microsoft, Google, Mozilla and Apple, and just three layout engines, Trident, Gecko and WebKit.