XPER - Xperi acquires OTT software provider Vewd Software for $109M
- Xperi ( NASDAQ: XPER ) acquired Vewd Software for $109M in cash and debt; Vewd is a global provider of over-the-top and hybrid TV solutions that ship in 30M+ connected TV devices annually.
- The acquisition establishes Xperi as a independent streaming media platform through its TiVo brand and the largest independent provider of Smart TV middleware globally.
- The transaction provides Xperi access to an installed European footprint of ~15M devices that can be enabled for monetization, including activation of TiVo+, a free ad-supported TV service.
- "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 $10M in 2H22, followed by substantially higher revenue and a positive EBITDA contribution in 2023," CEO Jon Kirchner commented.
- The Vewd management team will continue to lead the business and will be integrated into Xperi’s management structure.
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Xperi acquires OTT software provider, Vewd Software for $109M