Private equity groups ‘express interest’ in TiVo

Multiple private equity groups have expressed interest in acquiring TV technology group TiVo, according to a report in online news service The Street.

According to The Street, citing an unnamed source, potential buyers have made offers to buy the technology outfit for over US$20 a share, representing a significant premium to TiVo’s share price, which jumped on the news.

TiVo is set to make a presentation at the Citi 2018 Global TMT West conference on January 9.

TiVo has been riding high on the back of a number of contract wins late last year, including an audience targeting deal with Discovery and a renewal of its licensing deal with Liberty Global.

The company also renewed an IP licensing deal with Sony. Other deals included licensing agreements with Altice USA and AT&T.

TiVo’s first-half results last year saw its advanced TV experience present in 23 million homes globally, with revenues up 67% year-on-year following its takeover by Rovi, which subsequently adopted the TiVo name.

In November, TiVo named former AT&T Entertainment Group CTO Enrique Rodriguez as its new CEO, replacing Tom Carson.