NDS buys Electracade

Conditional access specialist NDS may be on the road to private ownership, but that still isnít stopping it from picking up a useful morsel en-route. NDS has used subsidiary company Orbis to pick up London-based Electracade for £2.6m.

NDS might end up paying more if certain performance targets and development promises are met. Electracade is an interactive games developer.

Orbis was acquired by NDS in December 2000. The company develops interactive gaming and betting solutions. NDS, which is managed by Dr. Abe Peled, provides open end-to-end digital technology and services to digital pay-TV platform operators and content providers as well as encryption and conditional access equipment.

NDS had $711 in cash and cash equivalents at the end of its first fiscal quarter of 2009 in September. The company currently has a market cap of $2.8 billion.