OpenTV Corp. Special Committee Rejects Kudelski SA Buyout Bid

SAN FRANCISCO--(BUSINESS WIRE)--The Special Committee of the Board of Directors of OpenTV Corp. (NASDAQ:OPTV) announced today that it has rejected the unsolicited proposal by Kudelski SA to acquire all outstanding shares of OpenTV Class A ordinary stock not owned by Kudelski or its affiliates for $1.35 per share as inadequate and not in the best interests of the Company and its stockholders. The Special Committee reached its conclusion after careful consideration, including a thorough review of OpenTV’s business and prospects, and other factors, with its independent financial advisor, UBS Securities LLC.