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December 19, 2019 02:41 pm

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

Xperi and TiVo 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. From a report: 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. Xperi shareholders will own approximately 46.5 percent of the combined business, and TiVo shareholders will own approximately 53.5 percent. 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.

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