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Xperi Holding Acquires Vewd Software For $109 Mln In Cash And Debt
(RTTNews) - Xperi Holding Corp. (XPER) announced Tuesday that it has acquired Vewd Software Holdings Ltd. for $109 million through a mixture of cash and debt.
Vewd Software is an independent OTT software provider for Smart TV makers, connected car and video-over-broadband operators, with over 450 million connected TV devices.
The acquisition establishes Xperi as a leading independent streaming media platform through its TiVo brand and the largest independent provider of Smart TV middleware globally. It also accelerates entry into the Connected TV space and establishes sub-brand TiVo as a leading independent Streaming Media Platform.
Furthermore, the transaction gives Xperi access to an installed European footprint of approximately 15 million devices that can be enabled for monetization, including activation of TiVo+, a free ad-supported TV service.
Xperi expects incremental revenue of $10 million in the second half of this year, followed by substantially higher revenue and a positive EBITDA contribution in 2023.
As part of the acquisition, Xperi will add approximately 275 talented team members who will help further Xperi's mission of enabling extraordinary experiences for millions of consumers around the world.
The Vewd management team will continue to lead the business and will be integrated into Xperi's management structure.
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