TiVo is being acquired in a deal worth $1.1 billion in cash and stock, reports TechCrunch.
The buyer is Rovi, which “holds a bunch of patents related to the entertainment industry and does a lot of software licensing to set-top box makers and TV service providers,” the story says, adding, “It also manages metadata for TV content and sells this data to cable companies. TiVo has been a pioneer in the DVR space. Many people gave up on their good old VHS recorders to switch to a TiVo. And, of course, TiVo also holds a lot of patents.”
Reports Ars Technica about the deal, “Together, Rovi and TiVo have over 6,000 patents issued and pending in the digital entertainment space.”