Rovi acquires Fan TV-maker Fanhattan
In a press release published Monday, November 3, 2014, Rovi Corporation, a self-described "leading provider of advanced entertainment discovery, data analytics and monetization solutions," announced its acquisition of Fanhattan, maker of the cloud-based entertainment discovery device Fan TV.
The Fan TV set-top box and its accompanying application, first designed for iPad compatibility, streams live broadcasts in addition to pre-recorded and on-demand media. In a 2013 article, TechCrunch Senior Editor Ryan Lawler called the device and its then-new touch remote control "a game-changing new way of navigating options on your TV."
Rovi detailed the gains it will make as a result of the technology acquisition:
"This acquisition accelerates Rovi's vision to deliver next-generation guidance and discovery using advanced cloud, user interface and hardware technologies," adding that, post-acquisition, "the company will offer customers faster time-to-market and improved flexibility deploying next-generation discovery and media experiences across multiple screens."
Rovi, based in Santa Clara, California, has offices in North America, Europe and Asia and employs over 1,200 people globally. The company also holds over 5,000 issued and pending patents. In acquiring Fanhattan and its Fan TV brand, Rovi expects to improve its offerings through adopting both the company's technology and the relationships it has formed with content and service providers (including a partnership with Time Warner Cable).
Fanhattan is careful to distinguish Fan TV from devices like Apple TV and Roku, which provide access to entertainment through a variety of apps, while Fan TV offers a "fully integrated" user experience by allowing users to search all content providers at once.
This acquisition underscores the value of one tech company acquiring another to strengthen its portfolio. If you are looking to acquire a business to diversify your tech company's offerings, contact an M&A advisor to discuss your options.