TiVo parent company Xperi Holding Corp. is moving forward with long-talked-about plans to separate its patent business, and has hired a new chief financial officer, Keith Jones, for the new intellectual property (IP) spinoff, which is called Adeia.
Jones arrives from Rambus, where he serves as interim CFO of a publicly traded company that develops and licenses chip technologies.
Xperi said its spinoff of Adeia will be completed in the fall. (Adeia is a term dating back to ancient Greece and seems to have been used by foreigners, slaves or any non-native Athenians to ask for permission to accuse someone of something.)
Also read: TiVo Owner Xperi Looks to (Finally) Spin Off Its Patent Troll Biz
“Keith is a proven leader and a great addition to the executive team at Adeia,” Adeia president Paul Davis said. “As Adeia becomes a separate publicly traded company, Keith’s expertise in the IP-licensing businesses and his public company experience are the perfect strategic fit for our organization.”
Added Jones, “As Adeia nears separation, I am honored to lead as CFO and am particularly excited to work with the talented team at Adeia to continue to drive its IP leadership position in the market.”
Xperi, which announced the $109 million acquisition of European video software maker Vewd last month, is looking to transition its TiVo Stream OS as the main software stack for tier-2 makers of smart TVs. ▪️
