KUDELSKI GROUP COMPLETES ACQUISITION OF OPENTV
Cheseaux, Switzerland – March 29, 2010
The Kudelski Group (SIX: KUD.VX) today announced that on March 26, 5:00 p.m., New York City time, OpenTV completed the previously announced redemption of the outstanding OpenTV Class A ordinary shares. As a result of the redemption, OpenTV is now fully owned by the Kudelski Group.
The Kudelski Group sees a significant potential in the integration of the teams and product roadmaps of both OpenTV and the Kudelski Group’s digital television division. A unified market vision will allow the Group to align product, solutions, marketing and sales strategies. For customers, this will translate into more flexibility and efficiency. Additionally, employees will benefit from increased career opportunities, as well as cross-organization and international exchanges.
The Kudelski Group last year initiated a tender offer to acquire all outstanding Class A shares of OpenTV Corp. (NASDAQ: OPTV) not already owned by Kudelski or its subsidiaries. At the end of this transaction, on November 25, 2009, Kudelski owned approximately 96% of the voting rights in OpenTV.
About The Kudelski Group The Kudelski Group (SIX: KUD.VX) is a world leader in digital security and convergent media solutions for the delivery of digital and interactive content. Its technologies are used in a wide range of services and applications requiring access control and rights management to secure the revenue of content owners and service providers for digital television and interactive applications across broadcast, broadband and mobile delivery networks. The Kudelski Group is also a world technology leader in the area of access control and management of people or vehicles to sites and events. It additionally offers professional recorders and high-end Hi-Fi products. The Kudelski Group is headquartered in Cheseaux-sur-Lausanne, Switzerland. Please visit www.nagra.com for more information.
Kudelski Group +41-21-732-01-24