NDS Group, a provider of software and security technology for pay-TV providers, announced Wednesday that the High Court of Justice in England and Wales approved the remaining elements of the plan to take the company private.
Under the terms of the plan, announced last August, News Corp. and two private equity funds advised by Permira Advisers LLP will acquire all issued and outstanding NDS Series A ordinary shares. News Corp. -- which previously owned about 72% of NDS -- now will own about 49% of the company and the equity funds will own 51%.
The scheme is expected to become fully effective on Feb. 5, upon the registration of a copy of the court order with the Registrar of Companies in England and Wales, NDS said. The last day for trading in NDS shares is expected to be Feb. 4.
In November, NDS CEO Abraham Peled said the company would go public again in the next three to five years, depending on market conditions.
The smarter way to stay on top of the multichannel video marketplace. Sign up below.