SAN CARLOS, Calif.--(BUSINESS WIRE)--
Rovi Corporation (NASDAQ: ROVI) today announced that it signed a 10-year
patent renewal license agreement with DISH Network L.L.C., a subsidiary
of DISH Network Corporation (NASDAQ: DISH). In addition, this agreement
will continue DISH’s license to Rovi’s Conversation Services natural
language platform, as well as other Rovi products.
Tom Carson, president and CEO of Rovi, said, “Our renewal with DISH
further validates the long-term value and relevance of our intellectual
property portfolio, reinforcing the importance of Rovi’s intellectual
property (IP) with both traditional and next-generation pay-TV service
providers. With this most recent renewal, Rovi now has nine of the top
10 U.S. pay-TV operators under license, with significant recent
momentum, as seven of those agreements have been signed over the last
seven quarters.”
Rovi’s quarter-century of investment in research and development has
enabled it to generate one of the world’s leading media and
entertainment patent and product portfolios. The company’s commitment to
innovation enables the delivery of products that touch practically every
aspect of consumers’ day-to-day interaction with their entertainment,
and helps licensees build customized, next-generation digital
entertainment solutions for users around the globe.
The patent license renewal is subject to certain contingencies relating
to the closing of Rovi’s acquisition of TiVo Inc., which we expect to
become effective on September 7, 2016, subject to obtaining the approval
of the TiVo and Rovi stockholders and satisfaction of other customary
closing conditions. For further details on the terms of this license
agreement, please see Rovi’s Current Report on Form 8-K filed today.
About Rovi Corporation
Rovi Corporation (NASDAQ: ROVI) is creating personalized and data-driven
ways for viewers to discover the right entertainment and for providers
to discover the right audiences. Chosen by top brands in entertainment
content, services and devices, Rovi touches the lives of hundreds of
millions of consumers by providing comprehensive solutions, customizable
products and intellectual property licensing to make discovery simple,
seamless and personal. With its extensive patented technology portfolio,
Rovi is advancing entertainment and audience discovery. Learn more at rovicorp.com,
or follow us on Twitter @rovicorp.
No Offer or Solicitation
The information in this communication is for informational purposes only
and is neither an offer to purchase, nor a solicitation of an offer to
sell, subscribe for or buy any securities or the solicitation of any
vote or approval in any jurisdiction pursuant to or in connection with
the proposed transactions or otherwise, nor shall there be any sale,
issuance or transfer of securities in any jurisdiction in contravention
of applicable law. No offer of securities shall be made except by means
of a prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, as amended, and otherwise in accordance with applicable law.
Forward Looking Statements
All statements contained herein that are not statements of historical
fact, including statements that use the words “believe”, “plan”, “will”
or “is expected to,” or similar words that describe Rovi Corporation’s
or its management’s future plans, objectives or goals, are
“forward-looking statements” and are made pursuant to the Safe-Harbor
provisions of the Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that could cause our actual results to be materially different
from the historical results and/or from any future results or outcomes
expressed or implied by such forward-looking statements. A number of
factors could cause our actual results to differ from anticipated
results expressed in such forward-looking statements. Such factors
include, among others, 1) uncertainties as to the timing of the closing
of the transaction, including due to failure to satisfy or delay in
satisfying the conditions to such closing; 2) failure to realize the
anticipated benefits of the proposed transaction, including as a result
of delay in completing the transaction; 3) general economic and market
conditions; and 4) evolving legal and regulatory regimes. Such factors
are further addressed in Rovi’s most recent report on Form 10-Q for the
period ended June 30, 2016, and such other documents as are filed with
the Securities and Exchange Commission from time to time (available at www.sec.gov).
Rovi assumes no obligation to update any forward-looking statements in
order to reflect events or circumstances that may arise after the date
of this release, except as required by law.
ADDITIONAL INFORMATION AND WHERE TO FIND IT
This communication is not a solicitation of a proxy from any stockholder
of Rovi, Titan Technologies Corporation or TiVo. In connection with the
Agreement and Plan of Merger among Rovi, TiVo, Titan Technologies
Corporation (“Parent”), Nova Acquisition Sub, Inc. and Titan Acquisition
Sub, Inc., Rovi, TiVo and Parent have filed relevant materials with the
SEC, including a Registration Statement on Form S-4 filed by Parent that
contains a joint proxy statement/prospectus. ROVI AND TIVO STOCKHOLDERS
ARE URGED TO READ THE DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS
REGARDING THE PROPOSED TRANSACTION BECAUSE IT CONTAINS IMPORTANT
INFORMATION ABOUT ROVI, TIVO, PARENT AND THE PROPOSED TRANSACTION.
Stockholders may obtain a free copy of the definitive joint proxy
statement/prospectus, as well as any other documents filed by Rovi,
Parent and TiVo with the Securities and Exchange Commission, at the
Securities and Exchange Commission’s Web site at http://www.sec.gov.
Stockholders may also obtain a free copy of the definitive joint proxy
statement/prospectus and the filings with the SEC that are incorporated
by reference in the definitive joint proxy statement/prospectus from
Rovi by directing a request to Rovi Investor Relations at
+1-818-565-5200 and from TiVo by directing a request to MacKenzie
Partners, Inc., 105 Madison Avenue, New York, New York, 10016, (212)
929-5500, [email protected].
PARTICIPANTS IN THE SOLICITATION
Rovi, Parent, TiVo and their respective directors and executive officers
and other members of their management and employees may be deemed, under
Securities and Exchange Commission rules, to be participants in the
solicitation of proxies in connection with the proposed transaction.
Information regarding Rovi’s directors and officers can be found in its
proxy statement filed with the Securities and Exchange Commission on
March 10, 2016 and information regarding TiVo’s directors and officers
can be found in its proxy statement filed with the Securities and
Exchange Commission on May 27, 2016. Additional information regarding
the participants in the proxy solicitation and a description of their
direct and indirect interests in the transaction, by security holdings
or otherwise, is contained in the Form S-4 and the definitive joint
proxy statement/prospectus that Parent has filed with the Securities and
Exchange Commission. Stockholders may obtain a free copy of these
documents as described in the preceding paragraph.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160822005194/en/
Press:
Finn Partners for Rovi
Ricca Silverio
+1-949-439-7869
[email protected]
or
Investors:
Rovi
Corporation
Peter Ausnit
VP, Investor Relations
+1-818-565-5200
[email protected]
Source: Rovi Corporation