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Slide #59. Rovi Corporation — Veveo
Rovi Corporation (ROVI)
Rovi Corporation (NASDAQ:ROVI), a global leader in entertainment discovery, today announced it has entered into a definitive agreement to acquire Veveo, Inc., a provider of intuitive and personalized entertainment discovery solutions based in Andover, Massachusetts. Under the terms of the agreement, Rovi will pay approximately $62 million in net cash at the closing and up to $7 million in additional cash payments based on achievement of certain agreed-upon milestones.
Rovi provides a set of content discovery solutions that are embedded in its customers' products and services to connect consumers with entertainment, including device embedded and cloud-based interactive program guides, natural language conversational voice and text search and recommendation services and its extensive database of Metadata such as descriptive information, promotional images or other content that describes or relates to television shows, videos, movies, music, books, games or other entertainment content. Co. also provides advertising and a portfolio of data and analytics products including advertising and programming promotion optimization.
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Strong Buy (3.50 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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