Accelerates entry into the connected TV space and establishes the TiVo sub-brand as the leading independent streaming media platform
LOS ANGELES, July 29, 2022 /PRNewswire/ — Xperi Holding Corporation (NASDAQ: XPER) (“Xperi” or the “Company”) today announced the acquisition of Vewd Software Holdings Limited (“Vewd”) to $109 million by a mix of cash and debt. Vewd is one of the world’s leading providers of over-the-top (“OTT”) and hybrid TV solutions that are delivered in more than 30 million connected TV devices each year. The acquisition makes Xperi a leading independent streaming media platform through its TiVo brand and the world’s largest independent Smart TV middleware provider.
Additionally, the transaction gives Xperi access to a European installed footprint of approximately 15 million devices that can be activated for monetization, including activation of TiVo+, a free, ad-supported TV service.
Vewd Software Holdings Limited, founded in 2002 with principal offices in Norway, Sweden, Taiwan and Polandis an independent provider of OTT software for Smart TV manufacturers, connected car and broadband video operators.
Over 450 million connected TV devices have been shipped with Vewd Smart TV solutions from customers including Amazon, Commscope, Hisense, Nintendo, Sagemcom, Skyworth, Sony, Swisscom, TCL, TPV Phillips and Vestel.
“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 broadband video,” said Jon Kirchner, CEO of Xperi. “Vewd’s global reach and expertise in providing support to content owners, TV OEMs and SoC partners as they deploy middleware and OS solutions on various devices is extremely valuable and paves the way for opportunities additional monetization as we expand our global footprint of streaming devices.”
“The acquisition of Vewd also bolsters growth prospects for our product business as we prepare to separate our IP and product businesses this fall. We expect an additional $10 million in revenue in the second half of this year. , followed by a substantial increase in revenue and EBITDA contribution in 2023,” added Kirchner.
“We are thrilled to join the Xperi family and look forward to combining the experience, skills and scale of both organizations to deliver new innovations to our customers. Together, we are poised to deliver more engaging experiences to millions of viewers around the world who enjoy the TV shows, sports and movies they love through our platform,” said Anesh RajaramCEO of Vewd.
As part of the acquisition, Xperi will add approximately 275 talented team members who will help further Xperi’s mission of enabling extraordinary experiences for millions of consumers around the world. Vewd’s management team will continue to lead the business and will be integrated into Xperi’s leadership structure.
Safe Harbor Statement
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About Xperi Holding Corporation
Xperi invents, develops and delivers technologies that enable extraordinary experiences. Xperi technologies, delivered through its brands (Adeia, DTS, HD Radio, IMAX Enhanced, TiVo), and by its startup, Perceive, make entertainment more entertaining and smart devices smarter. Xperi technologies are embedded in billions of consumer devices, media platforms and semiconductors worldwide, driving added value for partners, customers and consumers.
Xperi, Adeia, DTS, IMAX Enhanced, HD Radio, Perceive, TiVo and their respective logos are trademarks or registered trademarks of affiliates of Xperi Holding Corporation in the United States and other countries. All other company, brand and product names may be trademarks or registered trademarks of their respective companies.