Xperi Inc. · NYSE:XPER
Xperi — Merger or Acquisition (December 2019)
20 slides from Xperi's merger presentation, Dec 19, 2019
Slide 1: Transformative Merger Creating Leading Platforms in Consumer & Entertainment Technology and IP Licensing
TRANSFORMATIVE MERGER CREATING LEADING PLATFORMS IN CONSUMER & ENTERTAINMENT TECHNOLOGY AND IP LICENSING Bringing content together and enabling extraordinary experiencesTRANSFORMATIVE MERGER CREATING LEADING PLATFORMS IN CONSUMER & ENTERTAINMENT TECHNOLOGY AND IP LICENSING Bringing content together
Slide 2: Disclaimers: No Offer or Solicitation; Forward-Looking Statements
Disclaimers No Offer or Solicitation This communication is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote of approval, nor shall there be any sale of securities in a
Slide 3: Disclaimers: Important Information and Where to Find It
Disclaimers Important Information and Where to Find It In connection with the proposed transaction, Xperi Corporation (“Xperi”) and TiVo Corporation (“TiVo”) will cause the future parent company (“Holdco”) to file with the U.S. Securities and Exchange Commission (“SEC”) a registration statement on F
Slide 4: Today's Speakers
Today’s Speakers JON DAVE ROBERT KIRCHNER SHULL ANDERSEN Chief Executive Officer President and Chief Executive Chief Financial Officer Xperi Corporation Officer Xperi Corporation TiVo Corporation 4Today’s Speakers JON DAVE ROBERT KIRCHNER SHULL ANDERSEN Chief Executive Officer President and Chief Ex
Slide 5: Compelling Strategic Transaction Creating a Leader in Consumer & Entertainment Technology and IP Licensing
Compelling Strategic Transaction Creating a Leader in Consumer & Entertainment Technology and IP Licensing Xperi creates innovative technology solutions that enable TiVo brings entertainment together, making it easy to find, extraordinary experiences for people around the world watch, and enjoy $3B
Slide 6: Xperi Overview
Xperi Overview Transforming Home Entertainment through Integrated, Intelligent Immersive Intelligent Audio, Imaging, and Wireless Solutions Semiconductor, 3D Integrated, Intelligent, Packaging and IP and Immersive, Edge-Based Product Interconnect Semiconductor Imaging, and Audio Licensing Technologi
Slide 7: TiVo Overview
TiVo Overview Bringing Entertainment Together: Hyper-Personalized: Live, SVOD, AVOD, Digital Content & Ads Enabling Discovery of Content for Any Screen, Anywhere, Anytime Product IP Vital, Enduring Patents for Through End-to-End Cable Operator Licensing Licensing the Global Entertainment Ecosystem &
Slide 8: Transaction Summary
Transaction Summary • All-stock transaction Transaction Structure • Xperi shareholders will own 46.5% and TiVo stockholders will own 53.5% of the new company • Combined company will use the Xperi name • TiVo will operate under Xperi umbrella as sub-brand along with DTS, HD Radio, IMAX Enhanced, and
Slide 9: The New Xperi: Combining Two Industry-Leading Platforms
The New Xperi: Combining Two Industry-Leading Platforms ► Growth fueled by the proliferation of streaming content and evolving consumer video and Multiple Growth Drivers audio entertainment engagement trends in the home and automobile 1 ► $1.09B in revenue , $568M of product licensing and $523M of I
Slide 10: Broad Customer Footprint
Broad Customer Footprint LG COGECO COMMUNICATIONS AT&T SONY HBO ROGERS pandora Telstra 10Broad Customer Footprint LG COGECO COMMUNICATIONS AT&T SONY HBO ROGERS pandora Telstra 10
Slide 11: Product Licensing: Powerful Combination
Product Licensing Powerful Combination Significant Reach into Home, Auto, and Mobile Markets ~100M Annual >30M Subscriber TVs Households >30M Personalized ~400M Radio s Content Discovery Listeners Households ~200M Annual >70M Rich Media Smartphones Metadata Assets Relationship, Channel, and Scale Be
Slide 12: Delivering an Integrated, Personalized Entertainment Solution
Delivering an Integrated, Personalized Entertainment Solution Quick, seamless access to ~100M annual TV unit volume content and simple, smart user Transform home experience entertainment discovery and Existing relationships with all Predictive results tailored to top 10 TV brands user behaviors pres
Slide 13: Delivering an Entertainment Hub on Wheels
Delivering an Entertainment Hub on Wheels Dynamic, descriptive video and 52% HD Radio music metadata penetration rate in U.S. autos Revolutionize in-cabin automotive experience Business with all 41 auto Content discovery technology to brands sold in North America through highly personalized, power p
Slide 14: IP Licensing: Two Leading IP Portfolios
IP Licensing Two Leading IP Portfolios with 10,000+ Patents and Applications ▪ Foundational IP across multiple large markets ▪ Combines two businesses with strong track records in patent monetization and value creation ▪ Leverage innovative R&D teams to develop new patented technologies and enhance
Slide 15: Revenue Synergies and Cost Savings
Revenue Synergies and Cost Savings • Differentiated and complementary products increase cross-selling Significant opportunities 5-Year Annual Revenue • Expanded monetization opportunities through home and automotive Run-Rate Revenue Potential • Expanded buyer universe through mobile • Annualized sav
Slide 16: Attractive Financial Profile
Attractive Financial Profile 12 Months Ended 9/30/19 Product Signficant Scale and 1 $212M $356M $568M Billings/Revenue Synergies IP 1 $217M $305M $522M Diverse IP Portfolio Billings/Revenue Expect Meaningful Operating Cash Flow $171M $87M $258M Accretion Low CapEx CapEx $9M $23M $32M Businesses Pate
Slide 17: Meaningful Benefits for Stakeholders
Meaningful Benefits for Stakeholders ► All-stock transaction allows shareholders from both companies to participate in long-term growth of stronger combined company Shareholders ► Improved financial and credit profile with diversified cash flows ► Enhanced scale will be key driver to execute strateg
Slide 18: The New Xperi: Combining Two Industry-Leading Platforms
The New Xperi: Combining Two Industry-Leading Platforms ► Growth fueled by the proliferation of streaming content and evolving consumer video and Multiple Growth Drivers audio entertainment engagement trends in the home and automobile 1 ► $1.09B in revenue , $568M of product licensing and $523M of I
Slide 19: Q&A
Q&A XPERI #TIVO
Slide 20: Xperi # TiVo
XPERI # TIVO