Rovi Shares Lower by 1% After Earlier Announcing Patent License Agreement With ARRIS
Rovi Corporation (NASDAQ: ROVI), a global leader in entertainment discovery, today announced that it has signed a new, multi-year, global patent license agreement with ARRIS, a premier video and broadband technology company. The agreement provides ARRIS with a license for its solutions across set-top boxes and on second-screen platforms. The long-term licensing agreement extends into the next decade.
“Our new agreement with ARRIS further underscores the long-term value and relevance of our patent portfolio for advanced discovery and multi-screen video services,” said Samir Armaly, executive vice president, worldwide intellectual property and licensing, Rovi. “With growing demand for video entertainment on a variety of different platforms and devices, Rovi's intellectual property allows licensees to offer the innovative solutions required in today's marketplace.”
“ARRIS is transforming entertainment for millions of consumers by collaborating with the world's premier service providers to deliver next-gen TV that elevates personalization across multiple devices,” said Bruce McClelland, President, Network & Cloud, Global Services at ARRIS. “Our agreement with Rovi gives service providers more ways to engage and delight their subscribers, as our customers continue to deliver the next era of entertainment.”
With more than 5,000 issued patents and pending applications, Rovi has an extensive patent portfolio covering a wide range of digital entertainment capabilities. Rovi's patent portfolio supports its product line, including interactive guides, entertainment data, search and recommendations, advertising, and analytics that help enable entertainment personalization and monetization.
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