The purchase of middleware and interactive advertising specialist OpenTV by the Swiss technology group Kudelski has finally been completed.
An announcement was made at the close of the markets in New York at 17.00 on Friday March 26. Open TV has now completed the redemption of the outstanding OpenTV Class A ordinary shares meaning that Kudelski now wholly owns the company.
In a statement The Kudelski Group said it saw significant potential in the integration of the teams and product roadmaps of both OpenTV and the Kudelski Group’s digital television division. “A unified market vision will allow the Group to align product, solutions, marketing and sales strategies. For customers, this will translate into more flexibility and efficiency. Additionally, employees will benefit from increased career opportunities, as well as cross-organization and international exchanges”.
The battle for OpenTV led to some bitter exchanges between Kudelski and shareholder interest organisations, such as the Discovery Group and Arcadia Capital Advisors, over the company’s purchase price and the amount of investment required.
A settlement of $1.55 per share was finally reached with Kudelski securing 96% of voting rights.
