SAN CARLOS, Calif.--(BUSINESS WIRE)--TiVo Corporation (NASDAQ: TIVO), the global leader in entertainment technology and audience insights, today announced that TiVo Corporation and Samsung Electronics Co., Ltd. have agreed to terms regarding a broad intellectual property license that will provide certain rights under TiVo’s patent portfolios for Samsung’s leading mobile, consumer electronic and set-top box businesses. As part of the agreement, the parties will seek an immediate stay of all pending litigation and patent challenges between the two companies and, upon satisfaction of certain conditions in Q4 2016, will seek dismissal thereof.
“TiVo is pleased we were able to reach the terms of an agreement with Samsung, one of the world’s most valued brands, and we look forward continuing to work with Samsung to advance the consumer entertainment experience,” said Tom Carson, CEO, TiVo. “We believe this agreement with Samsung demonstrates the ongoing relevance of our intellectual property well into the future, as well as in key markets such as mobile. The arrangement also exemplifies the synergistic opportunities created by Rovi’s acquisition of TiVo to deliver significant value to our customers.”
The TiVo companies have spent decades investing in research and development to generate some of the most valuable intellectual property in the media and entertainment industry. TiVo’s commitment to innovation empowers it to deliver products that touch practically every aspect of consumers’ day-to-day interaction with their entertainment, and helps IP portfolio licensees build customized, next-generation digital entertainment solutions for users around the globe.
Conference Call Information
TiVo management will host its quarterly earnings conference call today, November 3, 2016, at 2:00 p.m. PT/5:00 p.m. ET and will discuss the Samsung arrangements in more detail as part of such call. Investors and analysts interested in participating in the conference are welcome to call 1-866-621-1214 (or international +1-706-643-4013) and reference conference ID 91960016. The conference call can also be accessed via live webcast in the Investor Relations section of TiVo's website at http://www.tivo.com/.
A telephonic replay of the conference call will be available through November 10, 2016 and can be accessed by calling 1-800-585-8367 (or international +1-404-537-3406) and entering conference ID 91960016. A replay of the audio webcast will be available on TiVo Corporation's website shortly after the live call ends and will remain on TiVo Corporation's website until its next quarterly earnings call.
TiVo (NASDAQ: TIVO) is the global leader in entertainment technology and audience insights. From the interactive program guide to the DVR, TiVo delivers innovative products and licensable technologies that revolutionize how people find content across a changing media landscape. TiVo enables the world’s leading media and entertainment providers to deliver the ultimate entertainment experience. Explore the next generation of entertainment at tivo.com, forward.tivo.com or follow us on Twitter @tivo or @tivoforbusiness.
All statements contained herein that are not statements of historical fact, including statements that use the words “will” or “is expected to,” or similar words that describe TiVo Corporation’s or its management’s future plans, objectives or goals, are “forward-looking statements” and are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of TiVo Corporation to be materially different from the historical results and/or from any future results or outcomes expressed or implied by such forward-looking statements. Such factors are further addressed in Rovi Corporation’s most recent report on Form 10-Q for the period ended June 30, 2016, TiVo Inc.’s most recent report on Form 10-Q for the period ended July 31, 2016, and such other documents as are filed with the Securities and Exchange Commission from time to time (available at www.sec.gov). TiVo Corporation assumes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, except as required by law.