More than 50 years of history

1951
Creation of the company by Stefan Kudelski and launch of the first portable recorder, the Nagra I.

1958
Release of the Nagra III; the legendary cinema recorder.

1986
The company is listed on the stock market.

1989
Canal+ adopts Kudelski’s access control system for pay television.

1991
André Kudelski succeeds Stefan Kudelski as Chairman and Chief Executive Officer of the Kudelski Group.
First million analog decoders sold. Conditional access television systems become Kudelski’s core business.

1992
Creation of Nagra+, a joint venture with Canal+.
Launch of the Nagra-D, the first portable professional4-track digital recorder.

1995
First order (from EchoStar) for a Nagravision digital system, marking the arrival of Nagravision on the North American market.

1996
Full conversion of the convertible loan (1986-1996) as part of a PEO.

1997
Digital pay television becomes the company’s core business.
Nagra Audio launches a range of high-end Hi-Fi products.

1998
Creation of NagraStar, a joint-venture with EchoStar, and of NagraCard. Capital increase and first indirect split of the Kudelski share (5+1).

1999
The company becomes a holding company.
Kudelski stock is listed on the principal market of the SIX Swiss Exchange.

2000
Investment in SportAccess (now polyright).
Capital increase and second indirect split (10+2).

2001
The Group makes several acquisitions in the public access sector (SkiData, Ticketcorner) and in digital television (Lysis, Livewire).
The Kudelski share is split by 10.
Launch of a convertible bond of USD 325 million. The operation is heavily over-subscribed.

2002
After a ten-year period of uninterrupted growth, the Kudelski Group suffers from the impact of the crisis in the television market, particularly in Europe, and of unfavorable developments in the foreign exchange markets.
The company carries out an in-depth review of its structure.
Creation of the holding company Nagra Public Access (includign SkiData, Polyright and Ticketcorner).

2003
Recovery of the digital television market.
Acquisition of the MediaGuard product line from Canal+ Technologies and creation of Nagra France.

2004
The Group publishes record results, tripling its digital TV revenues in Europe and almost doubling them in America.

2005
Early redemption of the USD 325 million convertible bond and issuance of a new convertible bond of CHF 350 million.
Creation of Quative (IPTV sector).
New Nagra Public Access structure; the entity is profitable again.
Sale of the majority stake of Ticketcorner.
Success of the new Nagra PMA pyramidal amplifier.

2006
Strategic investments for the development of the Digital TV ecosystem.
Acquisition of the Digital TV activity of SCM Microsystems resulting in the creation of SmarDTV.
Intensified Research & Development effort with a focus on content protection, IPTV and Mobile TV.
First mass deployments of the Nagra Mobile solutions enabling access to TV content on mobile phones.

2007
The Group becomes a leader in middleware and interactivity for digital television with the acquisition of a controlling interest in OpenTV.
Launch of new IPTV and Mobile TV solutions.
Launch of new families of security solutions.
Excellent results for Nagra Public Access.
Success of the Nagra CD player.

2008
Revenues pass the billion Swiss-franc milestone for the first time thanks to a 20.4% Group revenue growth in constant currency.
over 101 million digital TV active smart cards and devices successfully migrated to service mode.
Increasing footprint in Asia including for new solutions.

2009
Migration to service mode completed, ensuring a more stable revenue base for the Group.
Massive deployments on digital terrestrial television markets.
Success of the new TV 2.0 solutions such as Nagravision’s widget platform.
Full OpenTV acquisition and new acquisitions (Medialive and Medioh!).
Market expansion and long-term contract with DISH Network (USA).

2010
Expansion strategy focusing on emerging markets.
Renovation of the Middleware & Advertising activity
Success in Over-The-Top and US cable markets.

2011
Strong Swiss Franc and economic slowdown in traditional markets affected Group’s results
CHF 90 million savings program on track
Solid and sustainable Digital TV market with strategic client wins and growth prospects in emerging markets