Xperi completes spin-off to become independent public companyMonday, October 3rd, 2022
Xperi Inc. Completes its Spin-Off to Become an Independent Public Company
- Xperi’s growth strategy in media platforms is leveraged by its strategically built core portfolio of iconic brands
- Commemorates first day as a public company by ringing the opening bell at the NYSE
SAN JOSE, Calif. — Xperi Inc. (NYSE: XPER) (the “Company” or “Xperi”) celebrates its first day of trading as an independent company on the New York Stock Exchange under the ticker “XPER.”
“We are at an exciting juncture in our journey,” said Jon Kirchner, chief executive officer. “Today we stand as an independent company with a strong balance sheet, an executive team with substantial tenure, and an exciting path to significant growth and profitability. The realization of this strategic milestone is the result of years of continuous effort.”
Xperi has built a powerful portfolio of best-in-class entertainment technology brands such as TiVo®, DTS®, IMAX Enhanced® and HD Radio™, which it will leverage to accelerate its media platform business by pursuing engagement-based, recurring advertising, and data analytics revenue. Xperi’s independent media platform, TiVo OS, provides scale to CE brands and content providers, a profitable partnership model, and an award-winning, content-first experience where live TV and streaming services are fully integrated and personalized in a way that makes it easy to find, watch, and enjoy content across a siloed ecosystem.
Jon Kirchner, Xperi’s chief executive officer, stated, “Our strategy is closely aligned with broad industry growth trends and creates a highly scalable revenue stream through engagement-based monetization. Our market engagement model is well positioned to drive partner adoption by allowing TV OEMs and automotive OEMs to brand the experience, retain customer ownership, and actively participate in long term revenue generation. Our strategic growth, market opportunity, and unique value proposition are demonstrated by recent high profile customer wins such as a key TV OS win with Vestel, one of the three largest global TV producers, wins with BMW and Mercedes in automotive, and numerous IPTV wins, supported by a strong pipeline across our portfolio.”
Together, Xperi brands create immersive and personalized experiences that help its partners capture audience engagement and its end users achieve extraordinary experiences.
As previously announced, each stockholder of record of the Company’s predecessor (now known as “Adeia”), as of close of business on Wednesday, September 21, 2022, received a distribution of four shares of Xperi Common Stock for every ten shares of common stock of Adeia.
Centerview Partners LLC acted as financial advisor and Skadden, Arps, Slate, Meagher and Flom LLP acted as legal advisor.