TiVo, Xperi to Merge in $3 Billion Entertainment Tech Deal

guest · Dec 19, 2019

TiVo, Xperi to Merge in $3 Billion Entertainment Tech Deal
December 19, 2019
https://www.hollywoodreporter.com/news/tivo-xperi-merge-3-billion-entertainment-tech-deal-1264042

Xperi Corp. and TiVo Corp. said Thursday that they have entered a definitive agreement to combine in an all-stock entertainment technology deal with an enterprise value of approximately $3 billion.

Xperi sells audio, imaging and computing technology products. TiVo had previously planned to split into two companies, one focused on products and the other on intellectual property.

"The transaction creates a leading consumer and entertainment technology business and one of the industry’s largest intellectual property (IP) licensing platforms with a diverse portfolio of entertainment and semiconductor intellectual property," they said.
The combined firm, headquartered in San Jose, Calif., will use the Xperi name, but continue to provide entertainment services under the TiVo brand, alongside Xperi brands, such as HD Radio and Imax Enhanced.

"[...] With Xperi’s annual licensing of more than 100 million connected TV units, and complementary relationships with major content providers, consumer electronics manufacturers and automotive original equipment manufacturers, our combined company will transform the home, car and mobile entertainment experience for the consumer.”
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Xperi: Xperi and TiVo to Combine, Creating a Leader in Consumer & Entertainment Technology and IP Licensing

The Verge: TiVo to merge with Xperi to create ‘one of the largest licensing companies in the world

According to market analyst Avi Greengart, as with the 2016 Rovi purchase, the new deal is focused on IP licensing, not TiVo’s DVR hardware [...]

As Xperi’s press release announcing the merger proudly boasts, “With 10,000 patents and applications between the two companies and minimal licensee overlap, the combined IP business will be one of the largest licensing companies in the world.”
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