Money Makers Mentor

TiVo Wins Approval to Buy Mobitv

Digital T.V. recorder TiVo is set to buy MobiTV out of bankruptcy for $18.5 million after winning an auction for the assets two weeks ago. A bankruptcy judge also approved of the deal which will grant TiVo with substantially all of MobiTV’s assets. A combination of cash and certain assumed liabilities make up the $18.5 million bid. TiVo will pay $17.4 million in cash, along with the payment of certain cure amounts. This payment also includes the assumption of other liabilities in an amount up to about $6 million. This transaction is subject to regulatory approvals and customary closing conditions.

Transaction Details

TiVo beat rival bids from UK-based Amino (LSE: AMO) and a joint venture of patent portfolio company RPX and Roku (Nasdaq: ROKU). Amino bid $10 million, while RPX and R…

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