Kudelski transfers STB and CAM businesses to Neotion

Kudelski Group announced that it has transferred its SmarDTV conditional access module (CAM) and set-top box businesses to SmarDTV Global, a newly set up entity affiliated with Neotion. The transaction will close by the end of the month.
According to the group, upfront cash consideration for the transaction amounts to USD 20 million, subject to customary closing adjustments, with the potential for additional earn-out payments that are primarily based on CAM and set-top box sales volumes in the period up to the end of 2021. Kudelski retained certain assets and all patents, which are licensed to SmarDTV Global.
In a statement, Kudelski said its operating entities, Nagra and Conax, will continue to manage the commercial relationships with their customers for CAMs and will market and sell SmarDTV Global’s CAMs in their respective markets. “Kudelski and Neotion will also work closely together during a transition period to ensure a smooth handover of the relevant business activities”, the group added.
André Kudelski, Chairman and CEO, stated, ”This transfer of assets to a well established player is part of the Kudelski Group’s strategy to focus on core activities in which it has or will reach critical mass and profitability to fund on-going growth initiatives. In this transaction, we are placing a lot of attention on preserving our customers’ interests and ensuring their full satisfaction over time.”
Neotion is a French high-tech company established in January 2000 that offers innovative solutions for the different TV markets.