ROKU - TiVo wins approval to buy MobiTV out of bankruptcy

TiVo (XPER +0.6%) is set to buy MobiTV out of bankruptcy for $18.5M following approval of the bankruptcy judge. TiVo won an auction for the assets last week, prevailing over rival bids from Amino and a joint venture of patent portfolio company RPX and Roku ([[ROKU]] -1.2%). MobiTV entered the bankruptcy process without a bidder lined up, but secured eight qualified bids before the two-day auction process. Now TiVo's bid moves forward. TiVo will offer jobs to about 50 of MobiTV's 80 employees as part of the sale. And while it gets MobiTV's IP/patent business, it also takes over ongoing operations serving video service providers. MobiTV's Connect platform was used by partners including T-Mobile (and its bankruptcy didn't help matters as T-Mobile pulled the plug on its own TV service offering).

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TiVo wins approval to buy MobiTV out of bankruptcy