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) within the framework 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 SWX Swiss Exchange. 2000 Investment in 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, polyrigh 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 The Group publishes record financial results. 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 acquistion of a controlling interest in OpenTV. Massive consumer acceptance of new solutions such as IPTV and Mobile TV. Launch of new families of security solutions. Excellent results for Nagra Public Access. Success of the Nagra CD player.