Having added TiVo to its portfolio, Xperi Holding Corporation has begun what it is said to be an acceleration into the connected TV space with the acquisition of Vewd Software Holdings in a deal valued at $109 million through a mixture of cash and debt.
The acquisition will aim to establish Xperi as a leading independent streaming media platform through its TiVo brand and also as the largest independent provider of Smart TV middleware globally.
Founded in 2002 with main offices in Norway, Sweden, Taiwan and Poland, 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. With nearly 40 million Vewd-enabled TVs, set-top boxes, game consoles, and cars shipping each year, and over 350 million connected TV devices enabled to date, Vewd claims to have the largest, independent connected TV ecosystem, enabling content owners to scale distribution, expand viewership and increase revenue. 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.
The new deal gives Xperi access to an installed European footprint of approximately 15 million devices that can be enabled for monetisation, including activation of TiVo+, a free ad-supported TV service. It will also allow the company to position TiVo as a leading independent streaming media platform.
“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 monetisation opportunities as we expand our global footprint of streaming devices. 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.”
“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,” added Vewd chief executive officer Aneesh Rajaram. “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.”
Founded in 2002 with main offices in Norway, Sweden, Taiwan and Poland, 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. With nearly 40 million Vewd-enabled TVs, set-top boxes, game consoles, and cars shipping each year, and over 350 million connected TV devices enabled to date, Vewd claims to have the largest, independent connected TV ecosystem, enabling content owners to scale distribution, expand viewership and increase revenue. 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.
The new deal gives Xperi access to an installed European footprint of approximately 15 million devices that can be enabled for monetisation, including activation of TiVo+, a free ad-supported TV service. It will also allow the company to position TiVo as a leading independent streaming media platform.
“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 monetisation opportunities as we expand our global footprint of streaming devices. 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.”
“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,” added Vewd chief executive officer Aneesh Rajaram. “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.”
