Xperi and TiVo Complete Merger, Establishing Leading Digital Entertainment Technology and IP Licensing Platform

Xperi Holding Corporation (“Xperi”) announced that it has completed the merger of Xperi Corporation and TiVo Corporation, forming a new expanded digital entertainment technology platform and one of the industry’s largest and most diverse intellectual property (IP) licensing platforms. The combined company will operate a number of industry leading technology brands, including the TiVo brand for consumer-facing media and entertainment products.

Xperi Corporation - the owner of DTS and HD Radio - and TiVo Corporation announced they entered into a definitive agreement to merge in an all-stock transaction, representing approximately $3 billion of combined enterprise value. The transaction creates a much larger consumer and entertainment technology business and one of the industry’s largest intellectual property (IP) licensing platforms with a diverse portfolio of entertainment and semiconductor intellectual property.