Kudelski takes control of OpenTV for $132m

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Swiss-headquartered digital security specialist Kudelski has acquired a controlling stake in digital TV software developer OpenTV. Kudelski took voting control of OpenTV by acquiring 6.5m class A and 30m class B shares from Liberty Media for $132m. The move leaves Kudelski owning 27% of OpenTV's equity and 75% of its voting shares.

San Francisco-based OpenTV provides set-top box middleware for cable, satellite, and IPTV platforms, with more than 73m deployments in 96 countries. The software enables the delivery of digital and interactive television as well as games and digital TV recording.

OpenTV chairman and CEO Jim Chiddix said: "Aligning ourselves with a global leader in the digital television sector like Kudelski will help us immediately extend our product line into new markets while allowing us to continue to offer products and services on a standalone basis. We think this deal offers us and the industry a myriad of new opportunities."

Kudelski, who becomes chairman of OpenTV, said Chiddix would assume the role of vice-chairman. Kudelski said it expects to appoint as CEO of OpenTV Alan Guggenheim, currently executive VP of the Kudelski Group and CEO of NagraStar, a joint venture between the Kudelski Group and EchoStar.

Lovelace Consulting  |  23.10.2006

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