CORRECTING and REPLACING Rovi Announces Sale of DivX and MainConcept Businesses
2014年3月31日 - 10:50PM
ビジネスワイヤ(英語)
In the StepStone Group boilerplate, the StepStone Group company
URL should be https://www.stepstoneglobal.com (instead of
www.stepstonegroup.com).
The corrected release reads:
ROVI ANNOUNCES SALE OF DIVX AND MAINCONCEPT
BUSINESSES
Rovi Corporation (NASDAQ: ROVI), a global leader in
entertainment discovery, announced it has entered into a definitive
agreement to sell its DivX and MainConcept businesses. Rovi had
previously announced its intent to sell the DivX and MainConcept
businesses by the end of the second quarter of 2014 as part of
Rovi’s strategic efforts to focus the Company on growth
opportunities related to its core entertainment discovery
technologies and services.
The DivX and MainConcept businesses were purchased by Parallax
Capital Partners and StepStone Group. Under the terms of the
agreement, Rovi will receive up to $75 million in a combination of
cash and additional payments based on the achievement of certain
agreed upon milestones. The transaction is expected to close by
April 1, 2014.
“The sale of DivX was the last of a number of significant steps
we’ve taken over the past year to realign the organization for
sustainable, long-term growth and I’m pleased we met our commitment
to complete this transaction, and did so ahead of schedule,” said
Thomas Carson, President and CEO, Rovi Corporation. “We are now
well-positioned to deliver innovative discovery solutions that help
service providers and other companies involved in content
distribution excite, personalize, and monetize the entertainment
experience.”
“With over one billion DivX enabled devices worldwide, consumers
can enjoy the highest quality video experience possible on the
widest array of screens possible," said James Hale, Managing
Partner at Parallax Capital Partners. "We are excited to lead the
company to its next level and look forward to continually advancing
the role of DivX in the creation and distribution of secure and
high quality video content."
Wells Fargo Securities, LLC acted as financial advisor to Rovi
with respect to the transaction.
About Rovi Corporation
Rovi is leading the way to a more personalized entertainment
experience. The company’s pioneering guides, data, and
recommendations continue to drive program search and navigation on
millions of devices on a global basis. With a new generation of
cloud-based discovery capabilities and emerging solutions for
interactive advertising and audience analytics, Rovi is enabling
premier brands worldwide to increase their reach, drive consumer
satisfaction and create a better entertainment experience across
multiple screens. The company holds over 5,000 issued or pending
patents worldwide and is headquartered in Santa Clara, California.
Discover more about Rovi at www.rovicorp.com.
About Parallax Capital Partners
Parallax Capital Partners (www.parallaxcap.com) is a private equity firm
focused on acquiring and operating application software and related
services companies. Since 1999, Parallax has acquired over 20
companies. Parallax’s previous and current portfolio companies
generate over $1.5 billion of annual revenues and have provided
significant returns for its investors, partners and employees.
Parallax has built an exceptional track record of transitioning
divisions, subsidiaries and product lines into successful
stand-alone entities.
About StepStone Group
StepStone Group (https://www.stepstoneglobal.com) is an
independent firm focused exclusively on providing private equity
asset management and advisory services. The firm oversees more than
$60 billion of private equity allocations and has offices in San
Diego, New York, Beijing, and London. StepStone provides investment
services to institutional investors focused on achieving superior
risk-adjusted private equity returns through a combination of
private equity fund investments, co-investments and secondary
purchases. StepStone has a proprietary research based approach to
optimizing exposure to top performing investment strategies,
geographies and managers.
Forward Looking Statements
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 the Company’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 the Company 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 the Company’s most recent report
on Form 10-K for the period ended December 31, 2013 and such other
documents as are filed with the Securities and Exchange Commission
from time to time (available at www.sec.gov). The Company 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.
Rovi CorporationChris Taylor, 408-562-3077
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