Rovi said it has signed a new multiyear, global patent license deal with Arris, a key cable supplier that snapped up Motorola Home last April.
Financial terms were not announced, but the deal gives Arris a license for Rovi’s intellectual property across set-top boxes and on second screens that will extend “into the next decade.”
The deal caps off a flurry of them for Rovi, which also announced its first ever agreement with the National Cable Television Cooperative (for DTA guides), and renewals with Canada’s Shaw Communications and CE giant Panasonic.
Rovi also posted first quarter results on Wednesday, pulling in revenues of $142.5 million, a 7.3% increase, and GAAP income of $1.7 million, versus year-ago net loss of $900,000.
The company also announced that it completed the sale of the DivX and MainConcept businesses on March 31. With those “discontinued operations” factored in, Rovi posted a GAAP net loss of $54.3 million.
“With the sale of DivX and MainConcept, we are now fully aligned around our discovery business, which includes guides, search and recommendation, in-guide advertising, analytics and metadata,” company president and CEO Tom Carson said, in a statement.
Looking ahead, Rovi expects fiscal year 2014 revenues to be in the range of $520 million to $550 million. Adjusting for its recent acquisition of voice-based search firm Veveo, Rovi said fiscal year 2014 adjusted pro forma income per common share will be in the range of $1.50 to $1.80.
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