TiVo acquires CubiwareTuesday, May 26th, 2015
TiVo Acquires Cubiware to Increase International Distribution
- Cubiware Solutions Currently Deployed With More Than 40 International Pay TV Operators Across 25 Countries
- Deal Provides Cost Effective Approach for Emerging Pay-TV Markets and Expands TiVo’s Product Offerings
SAN JOSE, CA — TiVo Inc. (NASDAQ: TIVO), a leader in the advanced television entertainment market, today announced that is has acquired Cubiware, an innovative provider of cost-effective software solutions for emerging market Pay-TV operators. Cubiware will expand TiVo’s international presence in 25 countries and positions TiVo to offer a broader array of compelling, cost effective solutions for Pay-TV operators across the world.
“Cubiware immediately accelerates our global Pay-TV efforts and enables us to more rapidly reach an even larger portion of the international market, which is expected to grow to more than a billion subscribers by 2020,” said Tom Rogers, TiVo’s President and CEO. “Cubiware’s recent growth reflects its strong position in markets that are experiencing rapid pay television expansion. This product expansion complements our current international TiVo and DigitalSmiths product lines, enabling us to deliver a comprehensive portfolio of solutions for video distributors across different distribution platforms — on premise, cloud or hybrid environments. The combination of TiVo and Cubiware is expected to enhance Cubiware’s product offering with a variety of features in the future including advanced search and recommendations, OTT applications, and user interface enhancements that will further distinguish Cubiware products and accelerate customer expansion.”
In addition to developing an enviable track record of delivering high quality, cost-effective solutions for Pay-TV operators, Cubiware has also established an important ecosystem of conditional access and set-top-box partners. TiVo will seek to continue expanding these relationships to serve an increasing array of international customers.
“We are very excited about the opportunities in front of us as part of TiVo, especially as many Pay-TV operators in emerging markets are looking for innovative advanced television software solutions that can be deployed on cost-effective set-top boxes and other devices,” said Jakub Gorski, Cubiware’s CEO and Co-founder. “Cubiware’s solution is integrated with a variety of leading set-top-box providers enabling over 4 million devices in the field. Becoming part of TiVo will enable us to offer more advanced solutions to our current customers and pursue a broader set of prospects with a proposition that offers compelling functionality at a very attractive price point.”
Cubiware is based in Warsaw, Poland and has relationships with approximately 40 customers across Latin America, Europe, and the Middle East and Asia, representing approximately 12 million Pay-TV subs. These include key operators like Columbus Communications (part of Cable & Wireless) and Cablemas (part of Televisa) in Latin America.
TiVo expects the deal to be accretive to Adjusted EBITDA in the current fiscal year.