TiVo Parent Xperi Sells Division to Amazon

Tech company Xperi, the parent of TV platform and measurement veteran TiVo, has sold its Perceive Corporation AI models division to online retail behemoth Amazon, for $80m.

Audio, imaging and computing technology products firm Xperi Corp. merged with entertainment technology and TV data provider TiVo in a $3bn deal in 2019. On Friday the merged group announced results for the quarter ended June 30th, with revenue down 5.7% to $119.6m, but detailed some specific areas of growth and innovation for TiVo services. The latter include a cross-screen ad platform called TiVo One; and the continuing roll-out of its DTS AutoStage software, which taps data from drivers of more than 52 connected car models worldwide to personalize entertainment and information services.

Xperi has reportedly been looking to sell Perceive since the beginning of this year, and the sale will sharpen its focus on TiVo and other growth areas. Perceive is based in San Jose, California, has 44 employees and specializes in technology for serving large AI models on 'edge' hardware devices, operating on the boundaries of networks with relatively limited processing and storage capabilities.

Xperi CEO Jon Kirchner (pictured), quoted on www.advanced-television.com , says Perceive's technology appears to have 'significant potential' and comments: 'We are pleased to have found a suitable home for Perceive, its employees, and its technology. We are excited that Amazon will be able to take the technology to the next level'.

The asset purchase agreement is scheduled to close by the end of the year.

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.