Samsung and TiVo Reach Terms on Long-Term Worldwide Intellectual Property Agreement
November 03 2016 - 4:10PM
Business Wire
Five-plus Year Patent License to Cover Range of
Devices In Mobile and Pay-TV Markets
TiVo Corporation (NASDAQ: TIVO), the global leader in
entertainment technology and audience insights, today announced
that TiVo Corporation and Samsung Electronics Co., Ltd. have agreed
to terms regarding a broad intellectual property license that will
provide certain rights under TiVo’s patent portfolios for Samsung’s
leading mobile, consumer electronic and set-top box businesses. As
part of the agreement, the parties will seek an immediate stay of
all pending litigation and patent challenges between the two
companies and, upon satisfaction of certain conditions in Q4 2016,
will seek dismissal thereof.
“TiVo is pleased we were able to reach the terms of an agreement
with Samsung, one of the world’s most valued brands, and we look
forward continuing to work with Samsung to advance the consumer
entertainment experience,” said Tom Carson, CEO, TiVo. “We believe
this agreement with Samsung demonstrates the ongoing relevance of
our intellectual property well into the future, as well as in key
markets such as mobile. The arrangement also exemplifies the
synergistic opportunities created by Rovi’s acquisition of TiVo to
deliver significant value to our customers.”
The TiVo companies have spent decades investing in research and
development to generate some of the most valuable intellectual
property in the media and entertainment industry. TiVo’s commitment
to innovation empowers it to deliver products that touch
practically every aspect of consumers’ day-to-day interaction with
their entertainment, and helps IP portfolio licensees build
customized, next-generation digital entertainment solutions for
users around the globe.
Conference Call Information
TiVo management will host its quarterly earnings conference call
today, November 3, 2016, at 2:00 p.m. PT/5:00 p.m. ET and will
discuss the Samsung arrangements in more detail as part of such
call. Investors and analysts interested in participating in the
conference are welcome to call 1-866-621-1214 (or international
+1-706-643-4013) and reference conference ID 91960016. The
conference call can also be accessed via live webcast in the
Investor Relations section of TiVo's website at
http://www.tivo.com/.
A telephonic replay of the conference call will be available
through November 10, 2016 and can be accessed by calling
1-800-585-8367 (or international +1-404-537-3406) and entering
conference ID 91960016. A replay of the audio webcast will be
available on TiVo Corporation's website shortly after the live call
ends and will remain on TiVo Corporation's website until its next
quarterly earnings call.
About TiVo
TiVo (NASDAQ: TIVO) is the global leader in entertainment
technology and audience insights. From the interactive program
guide to the DVR, TiVo delivers innovative products and licensable
technologies that revolutionize how people find content across a
changing media landscape. TiVo enables the world’s leading media
and entertainment providers to deliver the ultimate entertainment
experience. Explore the next generation of entertainment at
tivo.com, forward.tivo.com or follow us on Twitter @tivo or
@tivoforbusiness.
Forward-looking Statement
All statements contained herein that are not statements of
historical fact, including statements that use the words “will” or
“is expected to,” or similar words that describe TiVo Corporation’s
or its management’s future plans, objectives or goals, are
“forward-looking statements” and are made pursuant to the
Safe-Harbor provisions of the Private Securities Litigation Reform
Act of 1995. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that could cause the
actual results of TiVo Corporation to be materially different from
the historical results and/or from any future results or outcomes
expressed or implied by such forward-looking statements. Such
factors are further addressed in Rovi Corporation’s most recent
report on Form 10-Q for the period ended June 30, 2016, TiVo Inc.’s
most recent report on Form 10-Q for the period ended July 31, 2016,
and such other documents as are filed with the Securities and
Exchange Commission from time to time (available at www.sec.gov).
TiVo Corporation assumes no obligation to update any
forward-looking statements in order to reflect events or
circumstances that may arise after the date of this release, except
as required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20161103006139/en/
Finn Partners for TiVoRicca Silverio,
+1-949-439-7869tivo@finnpartners.com
TiVo (NASDAQ:TIVO)
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