TiVo Corp., the inventor of the digital video recorder, and technology licenser Xperi Corp. have agreed to merge in an all-stock transaction valued at $1.21 billion.
Combining the companies could create at least $50 million in savings, according to the statement. The transaction also would put on hold TiVo’s announced plan to spin off its intellectual property unit early next year, one of the people familiar with the matter has said. TiVo, which merged with rival Rovi Corp. in 2016, retained a financial advisor last year to explore strategic alternatives.
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