Advanced Television

Kudelski completes takeover of OpenTV

November 13, 2009

Digital TV company Kudelski has purchased approximately 60 per cent of the shares in OpenTV Corp it had not already owned for $1.55 a share, taking its voting rights to 91 per cent.

In February, Kudelski had proposed buying the remainder of OpenTV’s shares for $1.35 per share, but withdrew that bid in June after a special committee set up by OpenTV’s board rejected it as inadequate.

Kudelski also announced that it has commenced a subsequent offering period to acquire all of the remaining outstanding Class A shares.

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