Rovi to acquire TiVo in billion dollar deal

In a transaction approved by the boards of both companies, Rovi is looking to acquire TiVo in a deal worth approximately $1.1 billion in cash and stock. After the deal gains all necessary regulatory approvals, the newly combined company will operate under the TiVo brand and save at least $100 million in annual cost synergies.

Rovi CEO Tom Carson, who will remain at the helm after the deal closes, said in the company's press release:

Rovi’s acquisition of TiVo, with its innovative products, talented team, and substantial intellectual property portfolio, strengthens Rovi’s position as a global leader in media discovery, metadata, analytics, and IP licensing.

By working together, Rovi and TiVo will revolutionize how consumers experience media and entertainment and at the same time build value for our stockholders.

In terms of how the new TiVo will fulfill its vision, particularly for stakeholders, it is clear that the company will leverage Rovi's analytics platform and TiVo's viewership information to generate opportunities for targeted advertising. This will equip nearly 500 existing service providers with additional information with regards to how to retain their customers and minimize churn.

The number of households served by the new company will total more than 28 million and will serve "many of the largest pay-TV operators both in the US and around the world".

However, this deal serves as a timely reminder that your viewing habits, through either TiVo's mobile apps or DVRs, are used for commercial gain. If this is something that makes you uncomfortable then you may consider changing the app or device settings to opt out of sharing viewing data.

Source: Rovi Corp via TheWrap

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