Kudelski renews offer for OpenTV
October 7, 2009
The Kudelski Group is renewing its attempt to take full ownership of OpenTV with a higher offer valuing the interactive TV software maker at $215 million. The deal offers OpenTV shareholders $1.55 per share for the 108 million outstanding shares that Kudelski does not already own.
In February Kudelski, which currently owns 27% of OpenTV’s shares, offered $1.35 per share but OpenTV’s board rejected it, saying it was inadequate.
Kudelski argues Open needs to be put together with its subsidiaries such as Nagravision in order to have the scale to compete with the likes of NDS. OpenTV says its software is built into 133 million digital set-top boxes and televisions worldwide.