Xperi Corp. and TiVo Corp. have completed their merger, calling the result “a unique digital entertainment technology platform and one of the industry’s largest and most diverse intellectual property licensing platforms.”
Xperi is familiar to Radio World readers as the parent, among other things, of HD Radio and of the hybrid radio platform DTS Connected Radio. Its brands also include DTS, IMAX Enhanced, Invensas and Perceive.
Xperi Holding Corp. is the name of the ongoing entity; shares will continue to trade on the Nasdaq Global Select Market under the ticker symbol XPER. TiVo common stock previously traded under the symbol TIVO but is no longer listed for trading.
“In a time when consumers want personalized and seamless access to entertainment anywhere, anytime and on any device, the combined company will offer consumers a digital entertainment platform featuring an end-to-end entertainment experience, from choice to consumption,” the company stated in its announcement.
Licensing of intellectual property is a big part of what it does. “With a shared track record of creating value through intellectual property licensing, the combined IP portfolio spans more than 11,000 patents and applications, with recurring subscriber-based IP revenue providing important stability and diversification for the business,” it stated.
Jon Kirchner is CEO of Xperi. “With this combination, we are better positioned to transform the entertainment experience across the home, auto and mobile markets with smarter technologies that enable extraordinary experiences,” he said in the statement.
In a followup email to trade media, an Xperi representative wrote that the merger brings TiVo’s metadata platform to Xperi’s hybrid radio platform. “The solutions this merger is poised to bring to broadcasters, automakers and their consumers, take radio and the digital dashboard to a completely new level of discovery and engagement, offering drivers a safe, efficient, more personalized way to discover radio content, all presented with the text/image richness they demand in a digital platform,” she wrote. “Radio broadcasters retain control of content, with increased engagement and analytical insights, and automakers have access to a turnkey global solution that is secure and will be supported around the world.”