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Kudelski sells SmarDTV device business to Neotion

New business SmarDTV Global is an affiliate of Neotion

Kudelski Group has announced the sale of its SmarDTV device business to new company SmarDTV Global, an affiliate of Neotion.

The deal involves Kudelski’s Conditional Access Module (CAM) and Set-Top Box businesses.

According to Kudelski, upfront cash consideration for the transaction amounts to $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.

André Kudelski, chairman and CEO, said: ”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.”

Lionel Boissier, CEO of Neotion, added: “Neotion is strongly committed to ensure the continuity and the further development of both SmarDTV Global’s CAM and set-top box businesses, including the further development of an innovative product portfolio for the benefit of SmarDTV Global’s customers.”