OpenTV Rejects Takeover Bid from Kudelski Group

Authored by Mark Hefflinger on June 3, 2009 - 8:14am.

San Francisco - OpenTV, a developer of interactive TV software and services, said that its board of directors has rejected an unsolicited takeover bid by Swiss content protection technology firm Kudelski Group.

Kudelski in February had offered $1.35 a share -- or about $127 million -- to acquire shares of the company that it doesn't already own.

It acquired voting control of OpenTV through a deal with Liberty Media more than two years ago.

A special committee of San Francisco-based OpenTV's board labeled the latest offer "inadequate and not in the best interests of the company and its stockholders."

http://www.kudelski.com

http://www.opentv.com