Entertainment technology company Rovi has purchased original DVR service TiVo for $1.1 billion, or $10.70 per share. Talks of such an acquisition heated up last month, and now it’s official. That $10.70 price represents a premium of approximately 40 percent over TiVo’s closing stock price of $7.66 on March 23 — the last trading day prior to media speculation about a possible transaction.
Rovi Corp. and TiVo Inc. are seeking to resolve differences over valuation and intellectual property, as the digital entertainment companies continue active merger talks, according to people familiar with the matter.
Facebook has announced it will be integrating digital entertainment service Rovi Corp. into its platform. The two companies have agreed to form a partnership whereby Rovi’s information database of movies, TV shows and celebrities will be tied into Facebook profiles. By doing so, it will allow the social network’s users to share further details of content that they like to their profiles.