Kudelski Group shelves iWedia share sale, seals DVNor deal | Media Investment | Business | News | Rapid TV News
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Digital security provider the Kudelski Group has announced mixed fortunes in its endeavours to sell off key assets in its digital TV portfolio, being able to close a sale in its DVNor media business line but failing to complete the sale of equity in iWedia.
iWedia Strong 9Nov2022
Kudelski Group had previously agreed a deal with Zappware Entertainment Group International to sell its 40% equity in iWedia, a provider of tier 1 software solutions for connected TV devices and Android TV. Yet Kudelski has now revealed that certain conditions to the closing of the transaction have not been satisfied within the specified period in the share purchase agreement with Zappware and so it has decided to terminate the share purchase agreement.

The Kudelski Group assured that going forward it remains committed to iWedia and will continue to work with the other shareholders to support the company’s business.

By contrast, has successfully sold assets and related media ingestion and asset management services business in DVNor to Sweden-based Pixlo AB. The divestment of the assets represents a cash transaction for the Kudelski Group. Other financial terms were not disclosed.

“The Group continues to focus on its core businesses, and this transaction is part of our ongoing effort to divest non-core assets,” said Kudelski Group executive vice-president, chief operating officer DTV Morten Solbakken commenting on the deal.