Rovi Paid $12M for Fanhattan

Reveals price in SEC filing
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Rovi acquired Fanhattan, the maker of advanced user interfaces and an IP-based set-top box platform, for $12 million in cash, the company revealed in a 10-Q document filed on Nov. 6.

Rovi, which closed the deal on Oct. 31, announced the acquisition on Nov. 3. The final purchase price is much in line with what Re/code reported at the time, noting that Fanhattan was looking to sell for about $15 million, even though investors had put “at least $40 million into different incarnations of the company over the years.”

Rovi didn’t disclose the purchase price when it announced the all-cash deal, but did say that the company intends to continue to offer Fanhattan’s products, including the Fan TV box, on a stand-alone basis, adding that it’s also “very open” to working with the company’s OEM partners should they want to license the platform and build their own solutions. Rovi, which has relationships with several major MVPDs and consumer electronics companies, said it will also be looking to rapidly expand the reach of Fan TV’s platform.

For the full story go to Multichannel.com.

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