The Kudelski Group had a not entirely unexpected fall in revenues for the half year 2018, down to $446.1 million from $497.2 million last year, and made losses of some $36.5 million. Kudelski is best known for Nagra content security, including forensic watermarking firm Nexguard and its Conax CAS subsidiary, but it also has a set top business, and new ventures in IoT security and Cybersecurity. This week it confirmed that it has sold its SmarDTV Conditional Access Module (CAM) and Set-Top Box businesses to an affiliate of Neotion SA, but it is not yet recorded in these figures. About $28 million of the loss was down to restructuring costs, and before these the losses were just $2.2 million (that…