TiVo wedded to Rovi in $1.1BN deal, and Rovi will take TiVo's name - CNET

Rovi has confirmed in a blog post that it is acquiring DVR maker TiVo in a deal worth $1.1bn, made up of cash and stocks.

"The new company combines two media and entertainment technology iovators with complementary products, services, and intellectual property," Rovi explains. Combined, the two companies have over 6,000 issued patents.

"Upon closing of the transaction [Rovi] will adopt the iconic TiVo brand as the new company name."

While the boards of both companies have approved the deal, the deal still needs to be approved by regulatory committees, but Rovi expects the transaction to close in the latter half of 2016.