Kudelski committed to acquiring OpenTV; tender offer ends Thursday

By Lisa Kerner

Charlotte, N.C., Nov. 9 - Kudelski SA, commenting on its tender offer for OpenTV Corp., said it "will not compromise OpenTV's sustainability for purely short-term profit."

The $1.55-per-share tender offer ends at 11 p.m. ET on Thursday, a Kudelski news release said.

According to Kudelski, OpenTV shareholder Discovery Group said that Kudelski's offer for OpenTV is too low but sold more than 7 million shares of OpenTV for an average sale price below $1.55 per share.

"We believe this is a significant development and indicates that Discovery Group has revised its assessment of OpenTV's value and recognizes the superior value of our offer," Kudelski said.

Kudelski told OpenTV shareholders that it has a plan that requires investing $100 million to $150 million "to ensure the mid- and long-term sustainability" of the company.

As previously reported, OpenTV's board of directors said it is remaining neutral on Kudelski's offer.

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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