TiVo has won the auction to acquire MobiTV, beating bids from Amino Technologies and Roku.
TiVo bid $18.5 million, including $17.4 million of cash, for the supplier of video software and infrastructure.
According to the company, the MobiTV solution provides an attractive extension to its IPTV pay-TV service offerings by adding managed services with the ability to reduce deployment time and onboarding costs.
“The acquisition of the MobiTV assets immediately expands our capabilities and the addressable market for our IPTV solutions, helping to secure TiVo’s position as a leading provider of pay-TV solutions,” said Jon Kirchner, chief executive officer of Xperi (TiVo’s parent company). “As a result, the acquisition of MobiTV’s managed service assets will help accelerate our growth in the IPTV market through an increased subscriber footprint.”
The deal is expected to close by early June, subject to various conditions, including approval by the bankruptcy court.