SAN FRANCISCO — Cooley represented San Carlos-based Rovi Corp. in its agreement to purchase TiVo Inc. for $1.1 billion. The cash-and-stock deal values TiVo at 10.70 per share. Rovi will pay for the deal with $2.75 in cash and $7.95 in Rovi company stock.
Rovi, based in San Carlos, develops television and entertainment “guides” that can be used to search for programming. The software can be used on set-top boxes and online. San Jose-based TiVo, formed in 1998, is the maker of the TiVo brand digital video recorder, which lets users record television shows while away from their set.