Kudelski holds subsequent offering period for remaining OpenTV shares

By Lisa Kerner

Charlotte, N.C., Nov. 13 - Kudelski SA announced it successfully completed its $1.55-per-share tender offer for the class A shares of OpenTV Corp. on Thursday.

OpenTV shareholders tendered approximately 56,382,588 class A shares, including 8,277,113 shares subject to guaranteed delivery procedures, or a total of approximately 60% of the OpenTV class A shares not already owned by Kudelski or its subsidiaries, according to a Kudelski news release.

Following the tender offer, Kudelski said it owns approximately 91% of the voting rights in OpenTV.

Kudelski began a subsequent offering period for OpenTV's remaining class A shares at the same $1.55-per-share price.

The subsequent offering period ends at 5 p.m. ET on Nov. 20.

OpenTV's software enables cable, satellite, telecommunications and digital terrestrial operators to offer enhanced television experiences to their viewers. The company is based in San Francisco.

Kudelski is based in Cheseaux, Switzerland, and provides digital security and convergent media solutions for the delivery of digital and interactive content.

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