Rovi to Acquire Veveo

Rovi, a provider of entertainment discovery, has entered into a definitive agreement to acquire Veveo, & provider of intuitive and personalized entertainment discovery solutions, for approximately $62 million in cash and up to $7 million in additional cash payments based on achievement of certain agreed-upon milestones.

The transaction combines Veveo's personalization and contextual search tools with Rovi's robust search and recommendation engine and metadata. Veveo's technologies include proprietary semantic technologies and natural-language controls that enable search and recommendation interfaces operated by voice commands and powered by an engine that continually learns and adapts to the needs and tastes of the individual viewer. Veveo solutions have been adopted by leading device manufacturers and Tier-1 service providers. The company has more than 80 patent applications filed and 50 patents granted to date.

Rovi's search and recommendation capabilities are supported by its rich metadata offering, which includes detailed information and professional editorial on millions of movies, TV shows, sports programming, music, games, and books. Rovi continues to expand the reach of its metadata, which currently spans 55 countries.

"The Veveo acquisition will deepen Rovi's cloud-based search and recommendation capabilities, enhance our entertainment metadata and guide solutions with next-generation semantic capabilities, and help us grow our advertising and analytics offerings," said Tom Carson, president and CEO of Rovi, in a statement. "Veveo has developed a great set of technologies and is a clear strategic fit for where we are going as a company. This transaction positions us for leadership in search and recommendation, which is consistent with our stated focus on establishing leadership in targeted market segments. Rovi is enhancing its capabilities to deliver more and better discovery solutions, as our customers look to personalize the consumer entertainment experience across multiple screens and platforms."

"MSOs, device manufacturers, and social media companies recognize the value and opportunity in taking today's static discovery and recommendation engines to the next level by incorporating intelligent data, contextual search, predictive analytics, semantic technologies, and natural language controls," said Ajit Rajasekharan, co-founder of Veveo, in a statement. "By combining our leading offerings, Rovi and Veveo are in a prime position to help our customers differentiate through truly intelligent and personalized entertainment discovery."

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