TiVo has scrapped plans to split itself into two separate companies, and instead announced a $3 billion merger with Xperi, a company that sells audio, imaging and computing technology products.
The new merged entity will take the Xperi name but will continue to sell entertainment services under the TiVo brand along with Xperi’s DTS, HD Radio, and IMAX Enhanced brands.
The all-stock deal will combine TiVo’s DVRs and other consumer products, entertainment metadata and patent portfolio with Xperi’s entertainment and semiconductor products and intellectual property. TiVo had previously planned to separate its product and patent-licensing businesses in April 2020 but opted to merge with Xperi instead.
The combo will create a company with more than 10,000 patents and patent applications with “minimal licensee overlap,” according to TiVo and Xperi. They claim the new Xperi will be one of the largest technology-licensing companies in the world, spanning entertainment content, consumer electronics and semiconductors.
