The Kudelski Group has witnessed great changes as a result of deep transformation of its structure, processes and business.The Group has worked to align its digital TV operations with the new market realities. The Group activities are increasingly expanding out of traditional pay TV into cybersecurity and Internet of Things (IoT) security, addressing growing market demand.
As per the Group, both domains, in which the Group is investing substantially, are developing well and expanding as planned, with stronger positioning in the United States and Europe and increasing market achievements. Concerning Intellectual Property licensing, the evolution of these initiatives continues to be marked by high volatility, which is to be expected for this type of business. In this context, the Group entered into a settlement agreement with Comcast Corporation and Comcast Cable Communications LLC pursuant to which all pending patent litigations between the companies have been dismissed. The terms of the settlement were not disclosed.
Over the past months, the Group has executed on the measures announced last August, involving the streamlining of Digital TV core operations, the full integration of its Conax subsidiary and accelerated investments in the development of cybersecurity and IoT proprietary solutions.
The Group believes that organizational changes are essential for the Group to adapt successfully to new market realities and seize new opportunities more effectively. An additional restructuring effort has been initiated in Q4 2017 and will continue into 2018. Costs incurred by this transformation will be accounted for partly in 2017 and, to a larger extent, in 2018. Material impact of restructuring is expected for 2017 and 2018 as well.
Over the past months, the Group has executed on the measures announced last August, involving the streamlining of Digital TV core operations, the full integration of its Conax subsidiary and accelerated investments in the development of cybersecurity and IoT proprietary solutions.
The Group believes that organizational changes are essential for the Group to adapt successfully to new market realities and seize new opportunities more effectively. An additional restructuring effort has been initiated in Q4 2017 and will continue into 2018. Costs incurred by this transformation will be accounted for partly in 2017 and, to a larger extent, in 2018. Material impact of restructuring is expected for 2017 and 2018 as well.
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