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Rovi to buy DVR maker TiVo in $1.1 billion deal
A Tivo Bolt is displayed during the 2016 CES trade show in Las Vegas, Nevada January 7, 2016. The $299.00 unified entertainment system combines a cable box, a DVR and a streaming box into one device.
Reuters/Steve Marcus
Digital entertainment guide provider Rovi Corp said on Friday it would buy TiVo Inc, which makes digital-video recorders, in a deal valued at about $1.1 billion.
The $10.70 per-share cash-and-stock offer represents a premium of 13.6 percent to TiVo's Thursday closing.
(Reporting by Rishika Sadam in Bengaluru; Editing by Saumyadeb Chakrabarty)
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