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Service model drives Kudelski growth

Conditional access company and interactive TV provider Kudelski posted strong full year results, thanks in part to its decision to transition selected large accounts to its new service model during the first half of 2009.

By the end of December, Kudelski had 124 million active smart cards/modules, of which 59.8 million units were in the service model. Full-year revenues reached CHF1.05bn (€717m), up 2.4% year-on-year.

The company’s digital TV segment increased revenues by 3.6% to CHF685m. Digital TV sales were up 27.3% in the second half of the year compared to the first six months of the year. The company said it anticipated further growth as both industrialised countries and emerging markets continue to extend digital networks. The growth momentum is likely to sustain the company for “several years” Kudelski said.

Separately, Kudelski said it expects to complete a “squeeze out“ of the remaining minority interests it does not own in OpenTV in March and subsequently delist the TV technology company. Earlier this week, OpenTV announced that it is redeeming all of its outstanding shares not yet owned by Kudelski.