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Rovi completes TiVo acquisition

Rovi has completed its acquisition of TiVo and will now begin the process of integrating technological and product capabilities under the TiVo brand name.

The combined company will use its combined product and innovation portfolios to allow traditional, over-the-top and emerging providers to create new consumer experiences.

Rovi said that the new TiVo will “usher in a new era of the consumer entertainment experience” by combining media entertainment with complementary products and services, and innovative patented technologies.

“Today’s consumers face a fragmented media landscape when it comes to devices and platforms, and content owners and service providers want to understand their audiences better and help their customers navigate an ever-increasing set of content choices,” said Tom Carson, president and CEO, TiVo.

“The new TiVo is uniquely positioned to provide ground-breaking offerings that address the rapidly changing media landscape. Our broader product portfolio, more innovative patented technologies, increased resources and a stronger financial profile position us strongly for success and to continue providing the ultimate entertainment experiences to consumers across the globe.”

The new, expanded TiVo claims to offer guidance solutions to more than 25 million households, serving more than 500 pay TV operators, and has technologies that span more than 70 countries. The company expects to realize at least US$100 million in annual cost synergies, with 65% of these synergies recognised in the first 12 months.

Rovi first agreed to buy TiVo in a cash and stock deal worth roughly US$1.1 billion (€961 million) in April 2016.

https://www.digitaltveurope.com/533662/rovi-agrees-us1-1bn-tivo-buyout/