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Kudelski Acquires Controlling Interest In OpenTV
Kudelski Group signed a stock purchase agreement to acquire control of OpenTV Corp., which manufactures middleware and other technology solutions for direct-to-home operators, from Liberty Media Corp., Kudelski announced Oct. 19.
OpenTV manufactures set-top box middleware for satellite, cable and Internet Protocol (IP) TV platforms, with more than 73 million deployments throughout 96 countries. The software enables the delivery of digital and interactive television services such as advertising, games and personal video recording.
OpenTV’s customer base in North America includes Echostar, Time Warner and Bell Expressvu for middleware and interactive applications as well as Comcast, Charter and Cox for interactive advertising. In Europe, customers include BSkyB, TPS and Sky Italia, and in Asia, OpenTV supplies middleware to Starhub, Foxtel, Austar, Essel and others.
OpenTV has posted double-digit sales growth for the last three years and reported cash and equivalents of about $65 million, with no outstanding debt, as of June 30, Kudelski said.
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