The Kudelski Group continues its transformation

The Kudelski Group (SIX: KUD.S) is providing today a business update summarizing key developments of the first half year.The Group transformation continues in line with the previously announced shift of revenues from legacy digital TV to new growth initiatives. In this first half, the Group has implemented the transformation measures outlined in the last annual results presentation, aligning its digital TV operations with the new market realities and realizing the initial cost reduction as planned while incurring material restructuring costs. Conax and NAGRA organizations are now integrated. The two brands will maintain their specific go-to-market strategies, with NAGRA focusing on tailor-made solutions and complex integration projects for larger operators and Conax on lean, off-the-shelf standard solutions. The integration of the two organizations results in a stronger Group product portfolio and the elimination of duplicate positions. Globally, the Group further streamlined its operations, with significant efficiencies realized, most notably in China, France, Norway, the USA and Switzerland. The Group continues to expand in the intellectual property licensing space. It announced today that it has entered into a comprehensive patent license agreement with NFL Enterprises. Financial terms were not disclosed.With about 300 new installations in this first half year, SKIDATA continues to consolidate its market leadership with an installed base of over 10