EchoStar and NAGRA make SmarDTV into a joint ventureTuesday, March 31st, 2015
EchoStar and NAGRA Join Forces in SmarDTV
- Agreement to help shape the future of devices for the global pay-TV market
CHESEAUX, Switzerland and ENGLEWOOD, Colo. — Kudelski Group (SIX: KUD.S) and EchoStar Corporation (NASDAQ: SATS) announced today the signing of an agreement whereby EchoStar will become a shareholder in SmarDTV SA, the subsidiary of Kudelski SA that offers advanced set-top boxes and conditional access modules. As part of the transaction, EchoStar’s operations in Steeton, U.K. and Madrid, Spain will be transferred to SmarDTV.
SmarDTV will build on the heritage of Nagra, Conax and OpenTV, as well as EchoStar’s proven engineering and technology capabilities, to facilitate joint commercial activities. This will enable SmarDTV to deliver a broad portfolio of world-class, feature-rich consumer devices to the TV broadcasting and broadband markets, including gateways, set-top boxes and conditional access modules, combined with best-of-breed Kudelski technologies for security, middleware and user experience.
“Partnering with Kudelski will allow both companies to expand our global reach and open up new business opportunities,” said Mark Jackson, president of EchoStar Technologies. “The EchoStar brand will further develop its strong global presence, expanding our video and broadcast solutions with new international initiatives.”
“The Kudelski Group and EchoStar have been partners for almost a quarter-century, and we have a proven track record of successfully combining our activities through collaborative joint ventures,” said André Kudelski, chairman and CEO of the Kudelski Group. “By joining forces at SmarDTV, our goal is to leverage the strengths of both companies and to further expand our partnership by providing premier solutions to the market.”