TiVo merges with Xperi

TiVo has announced that it has merged with entertainment tech company Xperi to create a new US$3 billion entity. The deal will effectively scrap TiVo’s earlier announced move to split its product and licencing divisions into two separate companies.

The merged company will adopt the Xperi name, but continue to sell products under the TiVo branding while Xperi’s DTS, HD Radio and IMAX Enhanced brands will also remain intact. 

While the company will be known as Xperi, TiVo shareholders will be in the majority at 53.5% with Xperi shareholders owning 46.5% of the new business. 

Between them, Xperi and TiVo own more than 10,000 patents and applications, with a press release saying that there is “minimal overlap” and that it will create “one of the largest licensing companies in the world.”

Following the completion of the transaction – expected to be in the first half of 2020 – Kirchner will serve as the CEO while Shull will take up the role of strategic advisor. Xperi CFO Robert Andersen will assume the role of the new company. The company will appoint three by each company having the board seven directors.