Rovi to acquire TiVo for $1.1 billion

Online entertainment listings company Rovi plans to acquire digital video recording firm TiVo for $ 1.1 billion in a stock and cash deal, the companies said Friday.

TiVo has cloud-based technology for integrating live, recorded, on-demand and Internet television into one user interface, with search, discovery, viewing and recording options from a variety of devices. Its technology has been deployed by operators including Virgin Media and Vodafone Spain.

Rovi announced in March that Sharp’s new Aquos TVs would include its G-Guide electronic programming guide.

The combined company is forecast to have more than $ 800 million in revenue in the current year. More than 10 million TiVo-served households are expected to be added to the current base of about 18 million homes that use Rovi guides. The new entity will serve nearly 500 service providers worldwide, the companies said.

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