Morten Solbakken - Conax AS
Acquired by the Switzerland-based Kudelski Group in April 2014, Conax is a global specialist in content security technology for digital TV services. ISO 9001 & 27001 certified, the company is headquartered in Norway, with offices in EMEA, Americas, Asia and Global 24/7 Support in India. Today, Conax enables secure content revenues for 400 pay-TV operators in 85 countries.
“I’m truly honoured to receive this award from the prestigious M&A publication, ACQ magazine,” says Morten Solbakken, President and CEO, Conax. “I would like to extend my gratitude to industry peers for recognition of the highly successful Conax sales and acquisition endeavour.”
Our new owner was quite clear in the key influencers for acquiring Conax; Profitability based on organizational excellence, strong business model, strong strategic synergies with its existing assets within the same value chain and success in emerging markets. For the above, I would like to accredit my management team and the Conax global organization for their commitment to the continual success, development and growth we have achieved.
I believe that Conax and the performance of the Conax organization has been the game changer here. This acquisition is not a typical example of a company being taken over by a competitor. In this case, the acquired company is maintained and strengthened with a long-term vision by its new owner to maximize market reach and profitability; alongside the incumbent organization of the owner – including clear cost benefits and positive synergies for all.
Advice for other companies involved in M&A?
The M&A process was an exciting journey, and one I would recommend going into with a very open mind. If you are on the seller’s side, convince your current owners to engage skilled, experienced advisors, and allocate ample time for proper preparations before launching the process. This will help minimize disruption to the company, its market position and will help maintain the company’s value through the process.
Not only is the process leading to a buyout extremely interesting, challenging and rewarding – bringing the company together with our new owner and starting to cooperate with its other entities is yet another interesting venture altogether.
The Kudelski Group is an industrial and definitely long term owner for Conax. We are now working closely with our new owner to ensure we maximize their value from the acquisition. Now our focus is all about how we can leverage our combined strengths to further increase the Group’s market share and value.
Visit: Conax AS