Xperi acquires Vewd

Xperi has acquired OTT and hybrid TV solutions provider Vewd Software for $109 million through a mixture of cash and debt. The Vewd management team will continue to lead the business and will be integrated into Xperi’s management structure.

Jon Kirchner, CEO of Xperi said, “Vewd’s global reach and expertise in providing support to content owners, TV OEMs, and SoC partners as they deploy middleware and OS solutions across various devices is tremendously valuable and further paves the way for additional monetisation opportunities as we expand our global footprint of streaming devices.”

He further added, “The acquisition of Vewd also strengthens the growth outlook of our product business as we prepare to separate our IP and product businesses this fall. We expect incremental revenue of $10 million in the second half of this year, followed by substantially higher revenue and a positive EBITDA contribution in 2023.”

As part of the acquisition, Xperi will add approximately 275 Vewd team members who will help further Xperi’s mission of enabling extraordinary experiences for millions of consumers around the world. The transaction also gives Xperi access to an installed European footprint of approximately 15 million devices that can be enabled for monetisation, including activation of TiVo+, a free ad-supported TV service.

Aneesh Rajaram, Vewd’s CEO, said, “We’re excited to join the Xperi family and look forward to combining the experience, skills and scale of both organisations to deliver new innovations for our clients. Together, we’re set to deliver more engaging experiences to the millions of viewers globally who enjoy TV shows, sports, and the movies they love through our platform.”