Digital video recorder and software developer TiVo is on the verge of a merger with the technology licensing business Xperi Corp, it is reported.
TiVo’s own licensing business, derived from a previous merger with Rovi, is close to being spun off in to a separate company.
According to a Bloomberg report, TiVo shareholders would own 54% of the combined company. It’s expected the company would be run by Xperi Chief Executive Officer Jon Kirchner. The present incumbent, Dave Shull, has only been in post for 8 months.
An official announcement could come later on Thursday.
The merger is likely to postpone plans for the spin-off of TiVo’s IPO company.