TiVo Enters Licensing Deal With Roku, Giving The Streaming Platform Access To Patent Portfolio

TiVo Corp. said on Wednesday it has signed a multi-year licensing deal with TV streaming platform Roku for intellectual property. The deal covers the TiVo and Rovi Corp. patent portfolio and the over-the-top assets from the Intellectual Ventures patent portfolio under its licensing partnership with TiVo signed in February. Roku also has the option to access TiVo's entertainment metadata and other products to help power search and navigation. "This license agreement with Roku underscores the importance of TiVo's comprehensive patent portfolios for the fast-growing streaming entertainment industry," said Samir Armaly, executive vice president of intellectual property and licensing at Rovi and TiVo. Last year Rovi reached an agreement to buy TiVo in a deal valued at $1.1 billion. TiVo shares were inactive in premarket trade, but have gained more than 9% over the last 12 months, while the S&P 500 index is up 14% in the same period.