Business
TiVo Corporation Agrees to Acquire MobiTV Assets From Chapter 11 Bankruptcy
Expands TiVo’s addressable market for IPTV solutions to the entire North American MSO and telecom operator market Addition of managed service capabilities
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[{"type":"text","content":"\nExpands TiVo’s addressable market for IPTV solutions to the entire North American MSO and telecom operator market \n\nAddition of managed service capabilities further solidifies TiVo’s position in the IPTV Pay-TV market\n\n SAN JOSE, Calif.--(BUSINESS WIRE)--\nXperi Holding Corporation (Nasdaq: XPER) (the “Company”, “Xperi” or “we”) today announced that its wholly-owned-subsidiary TiVo Corporation was selected as the successful bidder at auction to acquire the assets of MobiTV, a global leader in application-based Pay TV video delivery solutions. The acquisition is in connection with MobiTV’s recently announced Chapter 11 bankruptcy process.\n\nMobiTV delivers a full TV platform, including live and on-demand content, network recording functionality and transport rights. The MobiTV solution provides an attractive extension of TiVo’s IPTV Pay-TV service offerings by adding managed services with the ability to reduce deployment time and onboarding costs. MobiTV will help increase TiVo’s IPTV penetration with U.S. Pay-TV operators enabling them to rapidly launch a branded, fully featured, app-based Pay-TV service. The acquisition includes MobiTV’s patent portfolio, which is highly complementary to Xperi’s existing media patent portfolio.\n\n“The acquisition of the MobiTV assets immediately expands our capabilities and the addressable market for our IPTV solutions, helping to secure TiVo’s position as a leading provider of Pay-TV solutions,” said Jon Kirchner, chief executive officer of Xperi. “As a result, the acquisition of MobiTV’s managed service assets will help accelerate our growth in the IPTV market through an increased subscriber footprint.”\n\nThe closing of the transaction is subject to various conditions, including approval by the bankruptcy court. Subject to bankruptcy court approval and pending closing, Xperi expects MobiTV’s operations to continue in the ordinary course. The acquisition is expected to close by early June 2021 and to be accretive beginning in 2022.\n\nSafe Harbor Statement\n\nThis press release contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the Company’s current expectations, estimate...