Xperi acquires Vewd
July 6, 2022
Xperi, owner of TiVo, has acquired OTT and hybrid TV solutions provider Vewd Software for $109 million (€106m) through a mixture of cash and debt.
Vewd solutions ship in more than 30 million connected TV devices annually. Furthermore, the transaction 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.
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 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,” added Kirchner.
“We’re excited to join the Xperi family and look forward to combining the experience, skills and scale of both organisations to deliver new innovations for our clients,” added Aneesh Rajaram, Vewd’s chief executive officer. “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.”
As part of the acquisition, Xperi will add approximately 275 Vewd 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.