Rovi Acquiring Veveo, Creating Search and Discovery Powerhouse
Look for some innovative search solutions to come out of this: Digital entertainment company Rovi announced that it will acquire personalized search technology company Veveo for $62 million in cash, with the possibility of up to $7 million in further cash payments if agreed-upon milestones are met. The acquisition should close shortly.
The two companies have search solutions that work in different ways, so the combination could yield some useful results. Rovi's search and discovery tools are supported by rich metadata for millions of TV shows, movies, sports programs, songs, games, and books. Its database of metadata covers 55 countries.
Veveo, on the other hand, specializes in natural language controls and semantic technologies. Rich with intellectual property, the company has been grated 50 patents and has applied for more than 80. Veveo's goal is helping viewers find entertainment that's relevant to them.
The combination brings forward-thinking semantic search options to Rovi's cloud-based search and recommendation tools.
"Veveo has developed a great set of technologies and is a clear strategic fit for where we are going as a company," says Tom Carson, Rovi's president and CEO. “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.”
While the deal could still fall apart, the two companies together would own over 6,000 patents. Often courted, TiVo has so far remained independent.
Now focused on search and discovery, Rovi hopes to create next-gen search products and bring them to market sooner.
Saying that its future is in entertainment discovery, Rovi lets DivX and MainConcept go for $75 million.
Claims to achieve transcoding conversion time savings via software using a single decoded stream and offering up to 10 simultaneous re-encodes for any given stream
After acquiring IntegralReach, Rovi is unveiling a big data analytics solution for targeted reach.
Veveo's technology will provide personalized program searches for FIOS customers on TVs and mobile devices.