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UPDATE 1-Norway's Telenor sells digital TV technology unit
March 26, 2014 / 6:55 AM / in 4 years

UPDATE 1-Norway's Telenor sells digital TV technology unit

(Adds detail from Kudelski statement)

OSLO, March 26 (Reuters) - Norwegian telecom firm Telenor has sold its business providing encryption and content security for digital TV to Switzerland’s Kudelski for 1.5 billion crowns ($248) million), Telenor said on Wednesday.

Telenor said it sold its Conax business to focus on its core activities of telecom services.

Kudelski, a provider of security technology for digital TV, broadband and mobile devices, said the acquisition would complement its existing business.

“With this acquisition, we further expand our customer portfolio in Asia, Latin America, Eastern Europe and Scandinavia,” Kudelski said.

The transaction is expected to close within ten days and the net purchase price is approximately 200 million Swiss Francs ($225.7 million), Kudelski said. ($1 = 6.0480 Norwegian Kroner) ($1 = 0.8862 Swiss Francs) (Reporting by Gwladys Fouche; Editing by Erica Billingham)

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