SAN JOSE, Calif. (AP) — TiVo will spend $135 million in cash to acquire Digitalsmiths, a company that provides searches of TV content across a variety of devices. The pay TV service said Digitalsmiths has ties with seven of the top 10 U.S. pay-TV operators, and reaches 64 percent of the nation's pay-TV households. Pay-TV providers use its technology to recommend and let users search for and discover TV content on devices such as the Xbox, PlayStation, set-top boxes and smartphones. TiVo faces increased competition from cable and satellite TV companies who are improving their own DVR services. At the same time, devices such as Roku , Apple TV and Google's Chromecast are simplifying Internet streaming of TV shows. TiVo also increased its share repurchase authorization by $100 million and now has the capacity to buy back $186 million of its shares. Shares of TiVo rose 30 cents , or 2.5 percent, to $12.49 in morning trading. The stock has traded in the 52-week range of $10.47 and $14.25 .
Most Popular Stories
- Koch Brothers Step up Anti-Obamacare Campaign
- FDIC Accuses Big Banks of Fraud, Conspiracy
- Is Malaysian Airlines Flight 370 in Andaman Sea?
- Vybz Kartel Convicted of Murder
- Stocks Close Lower Ahead of Crimea Vote
- FDIC Sues Big Banks Over Rate Manipulation
- Ulta Shares Look Good on Strong Q4
- Jittery Investors Dumping Russian Stocks
- U.S. Consumer Sentiment Falls in Early March
- JLo Turns the Tables in New Vid: 'I Luh Ya Papi'