Kudelski terminates sale to Zappware of its iWedia stakeMonday, February 20th, 2023
The Kudelski Group Provides Update Concerning its Stake in iWedia
CHESEAUX-SUR-LAUSANNE, Switzerland and PHOENIX (AZ), USA — The Kudelski Group (SIX: KUD.S), the world leader in digital security, today provided an update regarding the previously announced agreement to sell its 40% equity in iWedia, a provider of tier 1 software solutions for connected TV devices and Android TV.
As certain conditions to the closing of the transaction were not satisfied within the period specified in the share purchase agreement with the buyer, Zappware Entertainment Group International AG (formerly known as Reinhart Interactive TV AG), the sellers decided to terminate the share purchase agreement.
The Kudelski Group remains committed to iWedia and will continue to work with the other iWedia shareholders to support the company’s business.