writes: TiVo, maker of one of the first consumer DVR's, has been purchased by IP powerhouse Rovi (formerly known as Macrovision) for $1.1 Billion. The combined company will go by the TiVo name. According to USA Today, "Shares of Rovi (ROVI) were up 3.7% to $17.99 in premarket trading. TiVo (TIVO) shares closed Thursday up 2% to $9.42."
The combined company will reportedly hold more than 6,000 patents related to TV and video technology. Both Robi and TiVo represent a $3 billion entertainment technology company, with saving synergies of $100 million expected over the first year, the companies said.