TiVo Sold To Rovi For $1.1 Billion
It’s an end of an era as DVR pioneer TiVo has been acquired by patent giant Rovi for $1.1 billion in cash and stock.
Rovi will merge the TiVo business of software and hardware into its own interactive products and will adopt the TiVo brand name.
In a statement (via Variety), Rovi CEO Tom Carson said: “The combined capabilities of TiVo and Rovi place us in a tremendous position to extend services across platforms and to a customer base that includes traditional, over-the-top and emerging players across the globe. By working together, Rovi and TiVo will revolutionize how consumers experience media and entertainment and at the same time build value for our stockholders.”
I must admit, I bought a new TiVo last year and I continue to be happy with the service.
It’s amazing though how technology keeps on shifting. I recall when DVRs were such a big deal and transformed the TV industry. Now, a lot of people are skipping the DVR and going straight to stream on demand on the internet.