TiVo Buys Cubiware

(RTTNews) - Set-top box maker TiVo Inc (TIVO) on Tuesday said it has acquired Cubiware, an innovative provider of cost-effective software solutions for emerging market Pay-TV operators. The financial terms of the deal were not disclosed.

Cubiware will expand TiVo's international presence in 25 countries and positions TiVo to offer a broader array of compelling, cost effective solutions for Pay-TV operators across the world.

TiVo expects the deal to be accretive to Adjusted EBITDA in the current fiscal year.

"Cubiware immediately accelerates our global Pay-TV efforts and enables us to more rapidly reach an even larger portion of the international market, which is expected to grow to more than a billion subscribers by 2020," said Tom Rogers, TiVo's CEO.

In addition to delivering high quality, cost-effective solutions for Pay-TV operators, Cubiware has also established an important ecosystem of conditional access and set-top-box partners.

Cubiware is based in Warsaw, Poland and has relationships with approximately 40 customers across Latin America, Europe, and the Middle East and Asia, representing approximately 12 million Pay-TV subs.