TiVo Acquires International Pay TV Service Provider Cubiware
In a move that helps diversify its business, TiVo announced that it has acquired Polish pay TV service provider Cubiware for an undisclosed amount. Cubiware is active in Latin America, Europe, and the Middle East and Asia where it works with approximately 40 customers representing 12 million subscribers. TiVo says the deal will increase its pay TV offerings and bolster its international presence.
Cubiware's offerings are integrated with variety of set-top boxes and are currently in use in 4 million devices, says Cubiware CEO and co-founder Jakub Gorski. He adds that joining with TiVo lets them develop advanced services and pursue a broader range of customers, all while maintaining a cost-conscious price.
For TiVo, the move signals a desire to expand its worldwide pay TV position. Cubiware is active in areas seeing strong pay TV growth, notes TiVo president and CEO Tom Rogers. TiVo will create a portfolio of pay TV solutions that work on-premises, in the cloud, or in hybrid offerings, he adds.
That wasn't TiVo's only news yesterday, as it beat its first-quarter estimates due to strong subscriber growth and saw its stock rise 4.7 percent in after-market trading. Rogers told reporters that the company will debut an Aereo-like offering this July, one that's fully legal and builds off the company's Roamio OTA DVR. In March, TiVo acquired Aereo's trademarks and customer lists for roughly $1 million.
While consumers still want a la carte service, which no provider offers, they're willing to pay less for an ideal lineup than they used to be.
Pitching it as a legal alternative to Aereo, TiVo debuts a $50 DVR for over-the-air content. Owners can stream video to mobile devices with the TiVo Stream
Freeing itself from the box, TiVo will create cloud-based services powered by Digitalsmiths metadata and recommendations.
Thanks to an iOS app and a software update, Roamio owners can now watch live or recorded content from their mobile devices.