Rovi has announced an intent to buy TiVo, for a total consideration of approximately $1.1 billion. The joint company will continue to be led by Rovi CEO Tom Carson, but will adopt the TiVo brand as the new name.
The combined company is estimated to realise at $100 million in annual cost synergies – 65% of them within the first 12 months. They will be in addition to TiVo’s targeted current year $32 million adjusted EBITDA increase from restructuring and margin improvements.
Subject to approvals, the transaction is expected to close in Q3’16.
