Kudelski terminates iWedia sale

Nagra-owner Kudelski Group has revealed it has terminated the sale of its 40% stake in the iWedia to Zappware Entertainment Group after certain conditions to the closing of the transaction were not satisfied within the period specified in the share purchase agreement.

Kudelski announced last summer that the provider of tier 1 software solutions for connected TV devices and Android TV would be combined with the Belgium-based tech outfit Zappware. The pair said that the combination will represent one of the largest TV deployment footprints in the world servicing up to 50 million households.

Kudelski recently sold its DVnor assets and related media ingestion and asset management services business to Sweden-based Pixlo.

The company commented, “The Kudelski Group remains committed to iWedia and will continue to work with the other iWedia shareholders to support the company’s business.”