Tuesday, February 25, 2014

Rovi Acquires Video Search firm Veveo

Video-search firm Veveo, in a deal valued at up to $69 million, is being acquired by top interactive program guide vendor Rovi. Veveo's personalized natural language processing platform will "complement and leapfrog" Rovi's analytics and metadata systems, said John Moakley, Rovi's executive vice president of data solutions.  In addition to developing technology that allows viewers to use search for content using apps on smartphones, Veveo has said previously that it would license its technology to set-top and smart TV manufacturers.
The deal is expected to juice the bottom line for Rovi and they have stated that the Veveo deal will contribute to "double digit revenue growth and be accretive in fiscal year 2015". But the company said that the acquisition would also "likely lower" its adjusted pro forma income per common share this year by 3 cents to 6 cents.
Bottom line, the Veveo acquisition will deepen Rovi's cloud-based search and recommendation capabilities, enhance their entertainment metadata and guide solutions with next-generation semantic capabilities, and help them grow their advertising and analytics offerings. More: 02/24/14 Bloomburg.com - Rovi to Buy Veveo to Bolster Television Analytics

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