OpenTV Completes Wink Acquisition, Appoints New COO
October 10, 2002
Interactive television company OpenTV bought competitor Wink Communications from Liberty Broadband Interactive Television (LBIT) for $101 million cash, representing the actual cost of LBIT's recent acquisition of Wink. Tim Travaille, executive vice president of finance and business development for Wink, was appointed interim COO.
OpenTV plans to use Wink's experience in interactive cable and satellite applications to expand its worldwide market presence. The combined company will have approximately 35 million households worldwide, with 60 cable and satellite operators in more than 50 countries.
Travaille, a former executive with AT&T Wireless, replaces Marty Leamy, who will step down as OpenTV's president and COO.