Rovi Corp. , which helps viewers discover entertainment with personalized data, said on Friday it’s reached an agreement to buy TiVo Inc. in a deal valued at $1.1 billion. Rovi will pay $10.70 per share in cash and stock — 14% above Thursday’s close — and will adopt the TiVo name. Rovi Chief Executive Tom Carson will remain at the helm of the new company. “The combined capabilities of TiVo and Rovi place us in a tremendous position to extend services across platforms and to a customer base that includes traditional, over-the-top and emerging players across the globe,” Carson said in a statement. The combined company is expected to have at least $100 million in annual cost synergies, with 65% in the first 12 months, according to a news release. Both TiVo and Rovi shares are halted for news.
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