Kudelski Defends OpenTV Offer

Recent profitability is not sustainable with 60% of revenues at risk in current business trends

November 9, 2009

1 Min Read

CHESEAUX, Switzerland -- The Kudelski Group (SIX: KUD.VX) today commented on its tender offer commenced on October 5, 2009 to acquire all outstanding Class A shares of OpenTV Corp. (NASDAQ: OPTV) not already owned by Kudelski or its subsidiaries for US$1.55 per share in cash, implying a total equity value of at least US$215 million1.

The Kudelski Group is committed to supporting OpenTV’s customer franchise, management, employees and other stakeholders and has a clear plan requiring significant investments to ensure the mid- and long-term sustainability of OpenTV. Kudelski is determined to execute the plan, and, as a respectful controlling shareholder, will not compromise OpenTV’s sustainability for purely short term profit. Therefore, Kudelski would like to make sure that shareholders currently holding OpenTV shares understand the potential implications and risks for those who choose not to tender their shares.

Kudelski Group

OpenTV Corp. (Nasdaq: OPTV)

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