OpenTV to consider Kudelski's offer

By Lisa Kerner

Charlotte, N.C., March 4 - OpenTV Corp.'s board of directors formed a special committee of independent directors to review the Feb. 26 proposal from Kudelski SA to acquire all of OpenTV's class A ordinary shares it does not currently own, an OpenTV news release said.

As previously reported, Kudelski is prepared to offer $1.35 per share for the San Francisco-based company.

Kudelski, with a 32% stake in OpenTV, said the proposal is not subject to financing but is conditioned upon the completion of a limited amount of confirmatory due diligence.

OpenTV's software enables cable, satellite, telecommunications and digital terrestrial operators to offer enhanced television experiences to their viewers.

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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