MobiTV receives bankruptcy court approval to sell all assets to TiVo

By Sarah Lizee

Olympia, Wash., May 21 – MobiTV, Inc. received court approval to sell all of its assets to TiVo Corp., according to an order filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, the company announced on May 12 that TiVo, a wholly owned subsidiary of Xperi Holding Corp., was the winning bidder for the asset in a court-supervised auction.

TiVo’s bid was for $18.5 million, a value arrived at from a cash offer and some assumed liabilities.

The acquisition is expected to close by early June and to be accretive for Xperi beginning in 2022.

FTI Consulting, Inc. is serving as MobiTV's financial adviser and investment banker. Pachulski Stang Ziehl & Jones LLP and Fenwick & West LLP are serving as the company's legal advisers.

MobiTV is an Emeryville, Calif.-based provider of live and on-demand video delivery solutions. The company filed bankruptcy on March 1 under Chapter 11 case number 21-10457.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.