Kudelski acquires Telenor’s digital TV security unit
26 March 2014 | Sophie Donoghue
Norways’s Telenor has divested its digital TV technology unit to Swiss security technology provider Kudelski in a $225.7 million deal.
Telenor’s Conax unit provides encryption and content security for digital TV, and the sale is expected to enable Telenor to place a stronger focus on its core business.
"As competition increases and new technologies emerge, achieving global scale and enhancing market share will be key determinants of future success," said Patrik Hofbauer, CEO of Telenor's broadcast division.
"To support Conax and jointly pursue future growth opportunities, we have evaluated that the best way forward for Conax is with a new owner," he continued.
Kudelski said the acquisition will complement its existing business, as well as help expand its customer portfolio in Asia, Latin America, Eastern Europe and Scandinavia.
The deal is expected to be finalised in the next ten days.
Earlier this month, Telenor announced plans to extend its 4G footprint in Norway with the addition of spectrum in the 800MHz band.
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