OpenTV $1.55-per-share tender offer boosts Kudelski's stake to 96%

By Lisa Kerner

Charlotte, N.C., Nov. 30 - Kudelski SA said OpenTV Corp. shareholders tendered approximately 77,677,149 class A shares, or about 83% of the shares not owned by Kudelski or its subsidiaries, in Kudelski's $1.55-per-share tender offer.

The subsequent offering period ended at midnight ET on Nov. 25, according to a Kudelski news release.

Kudelski said it has accepted for payment all shares validly tendered in the initial and subsequent offers.

Once the shares are acquired, Kudelski will own approximately 96% of the voting rights in OpenTV, the release said.

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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