On December 22, 2010, Rovi Corp., which provides content protection technology and other high-tech services, announced that it signed agreement with Sonic Solutions, owner of the Roxio DVD burning software and DivX. Under the deal, Rovi would pay $720 million for the take over.
With this take over, Rovi Corp. would further strengthen its digital entertainment collection. In a statement, Fred Amorso, President, Rovi Corp., said "We believe the two companies will be able to address the expanding digital entertainment market with unique capabilities that will bring enhanced value to consumers," Forbes reports:
Rovi, which provides content protection on DVDs, television listings and other high-tech services, said late Wednesday that Sonic Solutions ( SNIC - news - people ) shareholders will receive either $14.00 or 0.2489 shares of Rovi stock for each share tendered and accepted in the exchange offer.
Sonic solutions produces DVD-buring software, video and music capture and multimedia streaming software under the Roxio brand. Established in 1986, the company acquired DivX/ MainConcept in 2010, CinemaNow and Simple Star in 2008, Roxio Software Division and InterActual in 2004. and VERITAS' Desktop and Mobile Division in 2003.
After this acquisition, Sonic Solutions will become a wholly-owned subsidiary of Rovi Corp.
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