OpenTV $1.55-per-share tender offer extended by Kudelski to Wednesday

By Lisa Kerner

Charlotte, N.C., Nov. 23 - Kudelski SA extended its subsequent offering period for the outstanding class A shares of OpenTV Corp. to midnight ET on Wednesday from Friday.

According to Kudelski, approximately 76,298,095 OpenTV shares have been tendered in the $1.55-per-share offer to date. The shares represent 82% of the class A shares not owned by Kudelski or its subsidiaries.

Kudelski said it will own approximately 96% of the voting rights of OpenTV once those shares are acquired. All shares validly tendered have been accepted for payment.

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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