NAGRA-Kudelski, also known as Nagravision or Nagra, is a privately owned company headquartered in Switzerland, functioning as a subsidiary of Kudelski Group. Founded in 1989, it employs approximately 1350 individuals and reported $229.0M in revenue as of 2025. It is also a tier 2 media tech buyer. The company specializes in content security solutions. Functioning as the digital TV division of the Kudelski Group, it provides security and multiscreen user experience solutions for the monetization of digital media.

2025 Revenue

Founded

1989

Headcount

1,306

Headquarters

Switzerland

Primary Segment

Content security

Ownership

Privately Owned

Deployments

163

News Summary:

NAGRAVISION is partnering with MediaTek to embed secure digital rights management (DRM) into connected TVs, with Nagravision's DRM element set for inclusion in all future MediaTek TV system-on-chip (SoC) products, expanding Nagravision's hardware-based security market. Earlier on September 11, NAGRAVISION and Plume strengthened connected home security for 30 million subscribers worldwide, as Plume integrated NAGRA Scout Threat Intelligence to enhance network-level protection and create new opportunities for internet service providers. On September 10, NAGRAVISION launched NAGRA Venturi Agentic AI, integrated with Microsoft Azure, providing Azure customers with greater visibility into piracy activity and assisting in prioritizing actions against piracy threats. The company showcased its latest streaming and security innovations at the IBC 2026 on September 9, highlighting new approaches for intelligence-led streaming security, audience growth, personalization, consumer cyberthreat protection for connected devices, and secure Edge AI. This activity follows the Kudelski Group's improved first-half results, reported on August 26, 2026, which saw USD 171.8 million in revenue and other operating income. All business segments improved operating results, with Core Digital Security and IoT returning to growth, while EBITDA improved to USD –11.5 million from USD –19.1 million a year earlier, and the company maintained a debt-free status with USD 64.3 million in cash.

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NAGRA-Kudelski offers 19 products in the enterprise tech, telecoms tech, pro AV and media tech industries. NAGRA-Kudelski's product portfolio comprises of video business systems, user experience and devices, enterprise security, content security, conferencing systems and UC, sports tech and broadband and VAS software.
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NAGRA-Kudelski's revenues were less than $500M in 2025. Caretta Research has split NAGRA-Kudelski's revenue into 13 different product categories, the largest of which is conditional access systems (CAS). For full access to NAGRA-Kudelski's revenue breakdown subscribe to Caretta Portal.
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NAGRA-Kudelski's customers primarily consist of telecoms companies. Examples of NAGRA-Kudelski's customers include Telefonica, Vivo (Telefonica Brasil) and Vodafone. NAGRA-Kudelski has commercial and technical partners like Liberty Global, Amazon Web Services (AWS) and Samsung Device eXperience. NAGRA-Kudelski has suppliers like Optiva Media.

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