Xperi Inc. · NYSE:XPER
Xperi — Merger or Acquisition (December 2019)
18 slides from Xperi's merger presentation, Dec 20, 2019
Slide 1: All Employee Meeting
All Employee Meeting JOn Kirchner December 19, 2019
Slide 2: 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 experiences
Slide 3: 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 4: 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 5: Today's Announcement
Today’s Announcement Big news!! Transformational transaction that creates leading platforms in consumer and entertainment technology and IP licensing Potential to impact hundreds of millions of consumers and billions of devices around the globe Effectively addresses ever-increasing consumer desire t
Slide 6: Compelling Strategic Transaction
Compelling Strategic Transaction 1 Xperi evaluates the Company’s financial performance in part based on billings due to the close alignment between billings and cash receipts from licensing activity. Xperi believes billings is an important metric to provide to readers of its financial results. Creat
Slide 7: Transaction Summary
Transaction Summary Transaction Structure All-stock transaction Xperi shareholders will own 46.5% and TiVo stockholders will own 53.5% of the new company Expected to close in Q2 of 2020 Company Name & Brands Combined company will use the Xperi name TiVo will operate under Xperi umbrella as sub-brand
Slide 8: Powerful Combination
~100M Annual TVs ~400M Radio Listeners ~200M Annual Smartphones >30M Subscriber Households >30M Personalized Content Discovery Households >70M Rich Media Metadata Assets Powerful Combination Relationship, Channel, and Scale Benefits Significant Reach into Home, Auto, and Mobile Markets Product Licen
Slide 9: Two Leading IP Portfolios with 10,000+ Patents and Applications
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 sourcing capabiliti
Slide 10: Broad Customer Footprint
Broad Customer Footprint Telstra LG pandora COGECO COMMUNICATIONS AT&T ROGERS HBO SONY
Slide 11: TiVo Overview
TiVo Overview Bringing Entertainment Together, Making it Easy to Find, Watch, and Enjoy Product Licensing IP Licensing 20+ Years of Innovation Heritage Bringing Entertainment Together: Live, SVOD, AVOD, Digital Enabling Discovery of Content for Any Screen, Anywhere, Anytime Through End-to-End Cable
Slide 12: Delivering an Integrated, Personalized Entertainment Solution
Quick, seamless access to content and simple, smart user experience Predictive results tailored to user behaviors Dynamic, descriptive entertainment metadata Targeted audience segments and predictable advertising outcomes ~100M annual TV unit volume Existing relationships with all top 10 TV brands S
Slide 13: Delivering an Entertainment Hub on Wheels
Dynamic, descriptive video and music metadata Content discovery technology to power personalized music playlists Cloud powered, device-agnostic platform with seamless integration across devices 52% HD Radio penetration rate in U.S. autos Business with all 41 auto brands sold in North America Partner
Slide 14: Attractive Financial Profile
Twelve Months Ended 9/30/19 Attractive Financial Profile IP Billings/Revenue Operating Cash Flow CapEx Patents and Applications Product Billings/Revenue $217M1 $171M $9M 5,486 $212M1 $305M $87M $23M 5,386 $356M $522M $258M $32M 10,872 $568M 1 Xperi focuses on billings as a key measure of its busines
Slide 15: Meaningful Benefits for Stakeholders
Meaningful Benefits for Stakeholders Shareholders All-stock transaction allows shareholders from both companies to participate in long-term growth of stronger combined company Improved financial and credit profile with diversified cash flows Enhanced scale will be key driver to execute strategy and
Slide 16: Some Natural Questions
Some Natural Questions … A Short List Why did we decide to do this? Isn’t TiVo, while a well-known brand and pioneer, old technology? Does this help the product business or IP business? After we combine, what happens next? What is our strategy? Where will the business be located? Are there likely to
Slide 17: Question & Answer Session
XPERI # TIVO QUESTION & ANSWER SESSION
Slide 18: Xperi TiVo
XPERI #* TIVO