Kudelski wants all of Open TV

01-03-2009

Conditional access specialist Nagra Kudelski is mounting a take-over bid for middleware company Open TV. Kudelski already has voting control, but not economic control.


Andre Kudeslki, CEO at Nagra, says his company is offering minority shareholders a total of US$127m (€99.6m) for their shares, an impressive premium of some 35% over Open TV’s Feb 26 closing price.

Open TV’s Board will now consider the bid, but most observers expect it to be approved.