London – NDS, the pay-TV technology firm partly owned by
News Corp. (NYSE: NWS), announced on Thursday that it will sell OpenBet, its online gaming
and betting technology and software unit, to management and funds managed by
Vitruvian Partners for $329 million.
Following completion of the deal,
Vitruvian will hold a majority in OpenBet, with the remaining stake held by
OpenBet management — including CEO David Loveday, who will remain in his role.
"The sale of OpenBet will help accelerate that growth in a consolidating
market and allow NDS to focus further on continued growth in our core market —
the digital pay-TV technology sector," said NDS chairman and CEO Abe