DVR Maker TiVo Inc (TIVO) obtained by virtual amusement guide issuer Rovi Corp (ROVI) In $1.1 Billion Deal

TiVo

virtual entertainment manual provider Rovi Corp stated on Friday it’s far shopping for TiVo Inc, which makes virtual-video recorders, in a deal worth about $1.1 billion.

The combined business enterprise will undertake “TiVo” as its new name.

The $10.70 per-share coins-and-inventory provide represents a top rate of 13.6 percentage to TiVo’s Thursday last.

“Rovi’s acquisition of TiVo, with its revolutionary products, talented group, and good sized highbrow property portfolio, strengthens Rovi’s function as a international chief in media discovery, metadata, analytics, and IP licensing,” said Tom Carson, CEO of Rovi, in a declaration. “It’s an thrilling time because the media and entertainment landscape undergoes a considerable evolution.”

the 2 organizations are comparable in order that a combination is compelling in phrases of each sales and value synergies, a Bloomberg report stated.

Rovi postponed a scheduled submit-income convention call to Friday morning, with out presenting a cause. The employer turned into scheduled to host the call at 5:00 p.m. ET (2100 GMT) on Thursday.
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