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
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
September 2003: Tessera Technologies, Inc. became Tessera Holding Corporation.[3]
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
Products within Xperi's four business units are as follows:
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]
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]
US$521 million (2023)
US$−749 million (2022)