The Kudelski Group (SIX: KUD.VX) has announced its wholly owned subsidiary, Kudelski Interactive Cayman, Ltd., has commenced a tender offer to acquire all outstanding Class A shares of OpenTV Corp. (NASDAQ: OPTV) not owned by Kudelski or its subsidiaries for US$1.55 per share in cash. Kudelski’s offer is not conditioned on a minimum number of Class A shares being tendered. Kudelski said its all cash offer provides OpenTV shareholders immediate liquidity at a superior value to OpenTV’s future prospects, particularly given OpenTV’s current scale and R&D challenges and the significant amount of new investment required for OpenTV to remain competitive as a standalone, publicly-traded company.  In addition to delivering fair value to shareholders of OpenTV, Kudelski believes the combination is in the best interest of OpenTV’s employees, customers and partners because of Kudelski’s commitment to the sustainability of the business and Kudelski’s ability to invest in R&D and growth to ensure OpenTV has a strong future in the context of an intensely competitive environment.