Accelerates entry into the Connected TV space and establishes sub-brand TiVo as a leading independent Streaming Media Platform
Xperi Holding Corporation announced it has acquired Vewd Software Holdings Limited (“Vewd”) for $109 million through a mixture of cash and debt. Vewd is a leading global provider of over-the-top (“OTT”) and hybrid TV solutions that ship in more than 30 million connected TV devices annually. The acquisition establishes Xperi as a leading independent streaming media platform through its TiVo brand and the largest independent provider of Smart TV middleware globally. Furthermore, the transaction gives Xperi access to an installed European footprint of approximately 15 million devices that can be enabled for monetization, including activation of TiVo+, a free ad-supported TV service.
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Vewd Software Holdings Limited, founded in 2002 with main offices in Norway, Sweden, Taiwan and Poland, is an independent OTT software provider for Smart TV makers, connected car and video-over-broadband operators. Over 450 million connected TV devices have shipped with Vewd Smart TV Solutions from customers that include 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 video-over-broadband offerings,” said Jon Kirchner, chief executive officer 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 across various devices is tremendously valuable and further paves the way for additional monetization opportunities as we expand our global footprint of streaming devices.”
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“The acquisition of Vewd also strengthens the growth outlook of our product business as we prepare to separate our IP and product businesses this fall. We expect incremental revenue of $10 million in the second half of this year, followed by substantially higher revenue and a positive EBITDA contribution in 2023,” added Kirchner.
“We’re excited to join the Xperi family and look forward to combining the experience, skills and scale of both organizations to deliver new innovations for our clients. Together, we’re set to deliver more engaging experiences to the millions of viewers globally who enjoy TV shows, sports, and the movies they love through our platform,” said Aneesh Rajaram, Vewd’s chief executive officer.
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. The Vewd management team will continue to lead the business and will be integrated into Xperi’s management structure.
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