Feb. 24 (Bloomberg) -- Rovi Inc., which licenses data for for television guides, agreed to acquire Veveo Inc. for as much as $69 million to bolster search-and-analytics tools for cable, TV and consumer electronics partners.
Rovi will pay closely held Veveo $62 million in cash and as much as $7 million more upon completion of certain targets, John Moakley, executive vice president of Rovi data solutions, said today in an interview.
Veveo, based in Andover, Massachusetts, provides predictive search and personalization technology to clients including AT&T Inc., Cablevision Systems Corp. and Verizon Communications Inc. to help users find videos. The deal reinforces Rovi’s aim to help customers measure performance of subscriber offers, program promotions and advertising. Rovi started its own audience-management business about a year ago after it stopped offering digital downloads of movies and TV shows.
“There’s a lot of companies who do one slice of what customers are looking for, and by adding this component we’re looking to roll all of those things together,” Moakley said in an interview. “Over the next nine to 10 months, we expect to have a completely unified experience.”
Companies also are integrating Rovi’s language software that lets users speak to search for content.
Rovi, based in Santa Clara, California, announced a deal with America Movil SAB in January to use its cloud services for TV guide information, search and recommendations. The company also supplies TV data for Microsoft Corp.’s Xbox One and helps link information on movies, TV shows and celebrities for Facebook Inc.’s users.
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