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Shares of
Rovi CorporationROVI spiked higher by more than 6 percent Monday morning after the company
announced the renewal of a patent license agreement with
Sony Corp (ADR)SNE.
According to Rovi's press release, the company's renewed multi-year agreement will provide Sony with a license to use Rovi's entertainment discovery patent portfolio for its consumer electronics devices worldwide.
Despite Monday's gains, shares of Rovi are still lower by more than 25 percent over the past year.
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