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Xperi

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Not to be confused with Xperia, a smartphone brand owned by Sony, or Experian.

Xperi Inc.
Formerly
  • Tessera Holding Corporation (1990–2017)
  • Xperi Holding Corporation (2017–2022)
Company typePublic
IndustryTechnology, Pay television, Consumer electronics
Founded1990; 34 years ago (1990)
Headquarters
San Jose, California
,
U.S.
Area served
Worldwide
Key people
Brands
RevenueIncrease US$521 million (2023)
Decrease US$−749 million (2022)
Decrease US$−757 million (2022)
Total assetsDecrease US$737 million (2022)
Total equityDecrease US$463 million (2022)
Number of employees
c. 2,100 (2022)
Websitexperi.com
Footnotes / references
[1]

Xperi Inc. is an American multinational technology company headquartered in San Jose, California, that develops software for consumer electronics and connected cars, as well as media platforms for video service over broadband. The company is organized into four business units: Pay-TV, Consumer Electronics, Connected Car, and Media Platform. Xperi's brands include DTS, HD Radio, and TiVo.

Xperi Inc. was formerly part of Xperi Holding Corporation,[2] which was itself the result of significant M&A over many years, including publicly traded firms such as DTS, Inc. and TiVo Corporation.

History

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Xperi Holding Corporation traces its roots to Tessera, Inc., which was founded in 1990 and renamed Tessera Technologies, Inc. prior to its initial public offering in 2003.[3] Tessera developed chip-scale packaging technologies that were broadly licensed in the semiconductor industry.

In 2008, Tessera acquired FotoNation,[4] which specialized in image enhancement and analysis, and in 2016 Tessera acquired DTS, Inc., an audio technologies company. DTS had previously acquired iBiquity Digital Corporation in 2015,[5] which developed the North American digital audio broadcast standard known as HD Radio.

At the completion of the acquisition of DTS in December 2016, Tessera Technologies, Inc. became Tessera Holding Corporation,[6][7] and two months later began operating under the new corporate name Xperi Corporation.[8][9]

On December 19, 2019, Xperi Corporation and TiVo Corporation announced their intent to merge.[10][11] The merger was completed on June 1, 2020.[12] The combined entity operated under the name Xperi Holding Corporation, and became one of the largest intellectual property (IP) and product licensing companies in the world.[11] On October 1, 2022, the product business of Xperi Holding Corporation was separated from the IP licensing business and spun-off as a stand-alone public company named Xperi Inc., trading on the New York Stock Exchange under the ticker symbol XPER.[13]  At the same time, the remaining IP licensing business changed its name to Adeia Inc. and began trading on the Nasdaq Stock Market under the ticker symbol ADEA.[14]

Events

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  • September 2003: Tessera Technologies, Inc. became Tessera Holding Corporation.[3]
  • February 2008: Acquired FotoNation.[4]
  • December 2016: Acquired DTS, Inc.;[7]
  • February 2017: Tessera Holding Corporation became Xperi Corporation.[9]
  • June 2020: Xperi Corporation and TiVo Corporation merged  and formed Xperi Holding Corporation.[12]
  • May 2021: TiVo Corporation, wholly owned subsidiary of Xperi Holding Corporation, agrees to acquire MobiTV assets from Chapter 11 bankruptcy.[15]
  • July 2022: Xperi Holding Corporation acquired Vewd Software.[16]
  • October 2022: Xperi Holdings Corporation spun-off its product technology operations as Xperi Inc. (NYSE: XPER), and renamed the intellectual property licensing business Adeia Inc. (Nasdaq: ADEA).[13][[14]

Products

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Products within Xperi's four business units are as follows:

Pay TV

  • Classic Guides – providing interactive programming guides for linear TV through set-top boxes.
  • Personalized Content Discovery (PCD)[17] – a content discovery platform providing metadata and search and recommendations technology to discover and recommend appropriate content across linear TV, subscription, and internet-delivered programing.
  • IPTV – Streaming video services and interactive programming guides across internet protocol (IP) networks provided as either a fully-managed service or software download to a set-top box, mobile, or web device.[18]
  • Consumer Hardware and Subscriptions –TiVo DVR hardware and subscriptions.
  • TiVo+(plus) – free ad-supported streaming service providing more than 150 channels of TV and video on demand content.[19]

Consumer Electronics

  • DTS:X – high-definition audio codec supporting creation, distribution and playback of immersive audio  for cinema, and consumer electronics such as  TVs, soundbars, AV equipment, laptops, tablets, and other mobile devices.[20]
  • DTS Headphone:X – Spatial audio technology supporting rendering of immersive audio from movies, music, and gaming on headphones.[21]
  • IMAX Enhanced – a partnership between IMAX Corporation and DTS to bring the immersive technology used in cinema directly to consumer electronics, laptops, desktops, and certain portable devices.[22]
  • DTS Play-Fi – Whole-home wireless audio technology for consumer electronic devices.[23]

Connected Car

  • HD Radio – broadcast standard for North American digital radio across the FM and AM band.
  • DTS AutoStage – in-cabin entertainment platform combining broadcast radio, music, video and gaming delivered across internet protocol (IP) networks to automobiles.[24]

Media Platform

  • TiVo Operating System (TiVo OS) – an unbiased smart TV operating system that aggregates content across SVOD, AVOD and FAST channels, utilizing personalized content discovery and voice navigation.[25]
  • Monetization – Advertising revenue generated from in Guide ad units and ad-supported content viewed through a variety of Xperi platforms, such as the Classic Guides, TiVo OS, TiVo+, and PCD.
  • Metadata – Extensive database providing comprehensive, complimentary data about music[26] and video content, including The Movie Database (TMDB) through Rovi.[27][28]

References

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  1. ^ "Xperi Inc. 2022 Annual Report (Form 10-K)". SEC.gov. U.S. Securities and Exchange Commission. March 6, 2023.
  2. ^ "Inline XBRL Viewer". sec.gov. Retrieved August 25, 2023.
  3. ^ a b "Form S-1". sec.gov. Retrieved August 25, 2023.
  4. ^ a b "Tessera Completes Acquisition of FotoNation – Bloomberg". Bloomberg News. April 2, 2015. Archived from the original on April 2, 2015. Retrieved August 25, 2023.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  5. ^ "DTS Acquires iBiquity Digital | Mergr M&A Deal Summary". mergr.com. Retrieved August 25, 2023.
  6. ^ "8-K". sec.gov. Retrieved August 25, 2023.
  7. ^ a b "Tessera Completes Acquisition of DTS". businesswire.com. December 1, 2016. Retrieved August 25, 2023.
  8. ^ "Form 8-K". sec.gov. Retrieved August 25, 2023.
  9. ^ a b "Tessera Holding Corporation Announces Name Change to Xperi Corporation". businesswire.com. February 22, 2017. Retrieved August 25, 2023.
  10. ^ Spangler, Todd (December 19, 2019). "TiVo to Merge With Entertainment-Tech Firm Xperi in $3 Billion Deal". Variety. Retrieved August 25, 2023.
  11. ^ a b Gartenberg, Chaim (December 19, 2019). "TiVo to merge with Xperi to create 'one of the largest licensing companies in the world'". The Verge. Retrieved August 25, 2023.
  12. ^ a b "Xperi and TiVo Complete Merger". businesswire.com. June 1, 2020. Retrieved August 25, 2023.
  13. ^ a b "Xperi Inc. Completes its Spin-Off to Become an Independent Public Company". Yahoo Finance. October 10, 2022. Retrieved August 25, 2023.
  14. ^ a b "On October 3, Xperi Inc. to Ring NYSE Opening Bell; Adeia Inc. to Ring Nasdaq Closing Bell – IPO Edge". Retrieved August 25, 2023.
  15. ^ "TiVo Corporation Agrees to Acquire MobiTV Assets From Chapter 11 Bankruptcy". businesswire.com. May 12, 2021. Retrieved August 25, 2023.
  16. ^ "Xperi Acquires Vewd Software". businesswire.com. July 5, 2022. Retrieved August 25, 2023.
  17. ^ "Foxtel Selects TiVo's Personalized Content Discovery, Conversation Service to Power Voice Search". businesswire.com. October 22, 2020. Retrieved October 2, 2023.
  18. ^ "TiVo's IPTV platform expands into EMEA". Broadband TV News. August 25, 2023. Retrieved October 2, 2023.
  19. ^ Perez, Sarah (October 15, 2019). "TiVo's ad-supported streaming service, TiVo Plus, launches today". TechCrunch. Retrieved October 2, 2023.
  20. ^ updated, Joe Cox last (July 15, 2021). "DTS:X: what is it? How can you get it?". What Hi-Fi? Sound and Vision. Retrieved October 2, 2023.
  21. ^ Schiffer, Alex (January 2, 2023). "What Is DTS Headphones X And How Do I Use It? - Major HiFi". majorhifi.com. Retrieved October 2, 2023.
  22. ^ "What is IMAX Enhanced? What you need to know about the home cinema format". Trusted Reviews. April 20, 2022. Retrieved October 2, 2023.
  23. ^ Roberts, Becky; published, Adam Smith (February 2, 2021). "DTS Play-Fi: what is it? What speakers and devices support it?". What Hi-Fi? Sound and Vision. Retrieved October 2, 2023.
  24. ^ Sakurai, Jason R. (February 9, 2021). "Xperi's DTS AutoStage is the Next Big Thing in Infotainment". thetruthaboutcars.com. Retrieved October 2, 2023.
  25. ^ Peters, Jay (October 22, 2022). "TiVo is making its case as a smart TV platform". The Verge. Retrieved October 2, 2023.
  26. ^ Krzaczek, Katie (March 7, 2018). "TiVo Music Metadata to Provide Select Artist Photos on Google's Music Services". Billboard. Retrieved October 2, 2023.
  27. ^ Munson, Ben (November 4, 2020). "TiVo's Deep Discovery tool gets moody with metadata". StreamTV Insider. Retrieved October 2, 2023.
  28. ^ Schonfeld, Erick (December 16, 2010). "Fanhattan Promises Better Internet TV Through The Power Of Data (TCTV)". TechCrunch. Retrieved January 4, 2024.
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