TV technology outfit and owners of the Nagra brand, Kudelski Group, has revealed it has sold its DVnor assets and related media ingestion and asset management services business to Sweden-based Pixlo.
Kudelski acquired Norway-based media asset management outfit Digital Video Norge (DVnor) in 2017. In 2022 the company reported a decline in digital TV revenue by by 8.9% at constant currency year-on-year.
The four main business divisions of the Group cover end-to-end convergent media solutions to the digital entertainment industry, cybersecurity services for enterprise and government bodies, public access solutions and end-to-end IoT design solutions and full-lifecycle services.
“The Group continues to focus on its core businesses, and this transaction is part of our ongoing effort to divest non-core assets,” said Morten Solbakken, executive vice-president, chief operating officer, DTV at the Kudelski Group.
The divestment of the assets represents a cash transaction for the Group. Other financial terms were not disclosed.
