In a deal that could mark the start of more consolidation of the video security market, Kudelski Group has agreed to buy Conax, a unit of Norway’s Telenor Broadcast Holdings, for roughly $226 million.
Conax, headquartered in Oslo, provides content protection and conditional access systems to a range of cable operators, broadcast and satellite TV service providers, and IPTV distributors.
Kudelski, the parent of video security firm Nagra and middleware/software company OpenTV, expects to wrap up the deal within ten days.
Kudelski, the parent of video security firm Nagra, said the deal will be complementary as it looks to up its market position, noting that Contego, Conax’s latest security platform, is designed to provide content protection across a range of devices and service provider types.
Kudelski said the deal will be complementary as it looks to up its market position, noting that Contego, Conax’s latest security platform, is designed to provide content protection across a range of devices and service provider types.
“Their geographic footprint and solution portfolio are complementary to Nagra,” said Kudelski CEO Andrew Kudelski, in a statement. “With this acquisition, we further expand our customer portfolio in Asia, Latin America, Eastern Europe and Scandinavia.”
Among Conax’s notable activities in the U.S., Conax is a partner of Evolution Digital, which has developed a CableCARD module that uses Conax’s security platform. Through a separate deal, the Comcast Media Center supports Evolution's standard-definition and HD digital analog converters as well as devices using CableCARDs with Conax’s Digital Video Broadcast Conditional Access encryption.
In the video security sector, Kudelski/Nagra competes with Arris, Cisco Systems, and Verimatrix, among others.
