Seeking to expand its presence in streaming media, Xperi has acquired Vewd Software Holdings Ltd. for $109 million.
Xperi is known in broadcasting for its HD Radio and DTS AutoStage technologies but has a much wider scope, including brands such as DTS, TiVo, Adeia and IMAX Enhanced.
“Vewd is a leading global provider of over-the-top (‘OTT’) and hybrid TV solutions that ship in more than 30 million connected TV devices annually,” Xperi Holding Corp. stated.
Vewd’s website says, “We help companies like Sony, Verizon, Samsung and TiVo benefit from the growing number of consumers who watch content on connected devices.”
According to the announcement, “The acquisition establishes Xperi as a leading independent streaming media platform through its TiVo brand and the largest independent provider of Smart TV middleware globally. Furthermore, the transaction gives Xperi access to an installed European footprint of approximately 15 million devices that can be enabled for monetization, including activation of TiVo+, a free ad-supported TV service.”
Xperi will add approximately 275 employees. The Vewd management team will stay on and be integrated into Xperi’s management structure, Xperi said.
Vewd was founded in 2002. It is an OTT software provider for Smart TV makers, connected car and video-over-broadband operators. It says 450 million connected TV devices have shipped with Vewd Smart TV Solutions from customers like Amazon, Commscope, Nintendo and Sony.
Xperi CEO Jon Kirchner said in the announcement, “Xperi’s TiVo product offerings, when integrated with Vewd’s suite of streaming platform solutions, will help accelerate and scale the deployment of TiVo OS for connected TVs and expand our video-over-broadband offerings.” Xperi and TiVo merged in 2020.
He said the acquisition of Vewd “also strengthens the growth outlook of our product business as we prepare to separate our IP and product businesses this fall.”