Strong demand has enabled Kudelski, the Swiss network security software provider, to price a new convertible bond at the aggressive end of the range and still raise $325m (€362m) to help it on its quest for acquisitions.

The company said one use of the proceeds may be an investment in EchoStar Communications Corporation that would tighten links with the US satellite services provider. Kudelski already has a joint venture with EchoStar called NagraStar.