TiVo acquires Digitalsmiths for $135 million
TiVo is acquiring Digitalsmiths for $135 million in cash. Digitalsmiths is a personalized video search company that is backed by The Aurora Funds, Chrysalis Ventures, and .406 Ventures. Digitalsmiths is a cloud-based content discovery and recommendation service. Digitalsmiths offers video search, recommendations, browsing, social trending, and mood-based discovery, which shows consumers the most relevant movies, TV shows, and live events.
“The Digitalsmiths acquisition opens new opportunities to commercialize and deploy TiVo’s cloud based services and technologies to operators, in an extremely cost effective way that can be offered either independently or in conjunction with TiVo’s renowned user interface,” stated Tom Rogers, CEO and President of TiVo. “Additionally, Digitalsmiths contributes expertise, data opportunities, and approaches that complement and extend TiVo’s extensive work in advanced television to customers seeking search, recommendations, and portability. Our acquisition of Digitalsmiths will expand TiVo’s role with Tier-one U.S. Service Providers through its significant relationships with the 7 of the top ten 10 U.S. Pay-TV providers, which serve 64% of the country’s Pay-TV households. Finally, we believe Digitalsmiths’ revenue growth trajectory and attractive margin structure can help accelerate TiVo’s long-term Adjusted EBITDA growth.”
Digitalsmiths works with leading service providers, content providers, and consumer electronics companies to deliver personalized experiences that connects consumers with relevant video content. Digitalsmiths’ core product is called Seamless Discovery.