The Kudelski Group has confirmed that the current structure and organisation of Conax including office locations, will not change despite the acquisition. The Kudelski Group has signed a definitive agreement to acquire the security company in a $250 million deal in March. In a positioning statement, André Kudelski, Chairman & CEO of The Kudelski Group, […]
The Kudelski Group has confirmed that the current structure and organisation of Conax including office locations, will not change despite the acquisition. The Kudelski Group has signed a definitive agreement to acquire the security company in a $250 million deal in March.
In a positioning statement, André Kudelski, Chairman & CEO of The Kudelski Group, revealed that Conax will not disappear and confirmed that the Oslo-based pay-TV security firm company will be maintaining its corporate identity which he said was “widely recognised and respected in the industry”.
He did reserve the right to “carefully examine any possibilities to create synergies on a case-by-case basis”.
Furthermore, Kudelkski will run Conax as a company within its corporate structure and will continue to be run from Oslo by the existing management team with current Conax CEO Morten Solbakken reporting to André Kudelski who added that over the coming weeks the two management teams will jointly define a strategy and a structure leading to what he called “a close alignment” of the two organisations.
Shedding more light on the acquisition, Kudelski said: “Since 2011, one of our key priorities has been to further expand our footprint in emerging markets. In this context, the decision to acquire Conax was a logical one for the Group as Conax has focused on emerging markets and their solutions are suitable even for smaller to mid-size operators, which perfectly complements our existing product portfolio. With this acquisition, the Kudelski Group now has probably the best product portfolio in the industry to address both the needs of the new emerging market as well as the complex needs of advanced economies operators.”
For his part, Conax CEO Morten Solbakken added: “For more than 20 years, Conax has established a strong reputation by developing and delivering state-of-the-art, cost-effective and easy-to-deploy conditional access systems … I am looking forward to Conax playing an important role as part of the group by increasing the group’s overall market share, footprint and range of solutions.”
