Rovi to Purchase DVR Maker TiVo in $1.1 Billion Deal

Digital leisure information supplier Rovi Corp stated on Friday it will purchase TiVo, which makes digital-video recorders, in a deal valued at about $1.1 billion.

Rovi to Buy DVR Maker TiVo in $1.1 Billion Deal Rovi to Buy DVR Maker TiVo in $1.1 Billion Deal

A Tivo Bolt is displayed in the course of the 2016 CES commerce present in Las Vegas, Nevada January 7, 2016. The $299.00 unified leisure system combines a cable field, a DVR and a streaming field into one gadget. REUTERS/Steve Marcus

Rovi had postponed a scheduled submit-earnings convention name to Friday morning, with out offering a cause.

The 2 companies are comparable so that a mixture is compelling when it comes to each income and price synergies.

The $10.70 per-share money-and-inventory supply represents a premium of thirteen.6 % to TiVo’s Thursday closing.

TiVo and Rovi weren’t obtainable to remark outdoors of normal U.S. enterprise hours.