Rovi picks up Veveo for $62M
Rovi said it will acquire Veveo for approximately $62 million. Veveo has developed a proprietary, semantic technology and natural-language controls that enable set-tops to respond to voice commands.
Veveo’s customer list is said to include Comcast, Cablevision, Rogers, AT&T, DirecTV, and Nokia.
The ultimate purchase price will be closer to $70 million should the acquired operations meet certain milestones.
There’s been some consolidation among companies involved in metadata, search, discovery, and recommendation. Tribune Co. recently bought GraceNote for $170 million, and TiVo laid out $135 million to buy Digitalsmiths.
The latest deal in this area combines Veveo’s personalization and contextual search tools and voice input technology with Rovi’s search and recommendation engine and metadata.
Veveo’s recommendation engine continually learns and adapts to the requests of each individual viewer. That will be combined with Rovi’s search and recommendation capabilities, which are based on its extensive metadata, which includes detailed information and professional editorial on millions of movies, TV shows, sports programming, music, games, and books.
“The Veveo acquisition will deepen Rovi’s cloud-based search and recommendation capabilities, enhance our entertainment metadata and guide solutions with next-generation semantic capabilities, and help us grow our advertising and analytics offerings,” said Tom Carson, president and CEO of Rovi.
“MSOs, device manufacturers, and social media companies recognize the value and opportunity in taking today’s static discovery and recommendation engines to the next level by incorporating intelligent data, contextual search, predictive analytics, semantic technologies and natural language controls,” said Ajit Rajasekharan, co-founder of Veveo. “By combining our leading offerings, Rovi and Veveo are in a prime position to help our customers differentiate through truly intelligent and personalized entertainment discovery.”