Rovi Corp. ROVI, -3.18% which helps viewers uncover leisure with personalized data, said on Friday it is reached an agreement to purchase TiVo Inc. TIVO, +2.06% in a deal valued at $ 1.1 billion. Rovi pays $ 10.70 per share in money and stock — 14% above Thursday’s close — and will adopt the TiVo name. Rovi Chief govt Tom Carson will remain on the helm of the brand new company. “The blended capabilities of TiVo and Rovi situation us in a tremendous place to extend services across platforms and to a consumer base that features conventional, over-the-top and rising avid gamers across the globe,” Carson mentioned in a commentary. The combined firm is anticipated to have as a minimum $ a hundred million in annual cost synergies, with 65% in the first three hundred and sixty five days, in line with a information free up. both TiVo and Rovi shares are halted for information.