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Shares of
Rovi CorporationROVI, a digital entertainment company that focuses on content discovery, were trading lower by more than 2.50 percent on Monday despite
announcing a new partnership.
Rovi announced a new partnership with Intellectual Ventures, one of the largest holders of U.S. patents. As part of the partnership, Rovi will become the exclusive partner for Intellectual Ventures and license the companies' combined patent portfolio exclusive to OTT customers.
The partnership addresses all aspects of the OTT value chain from content management and delivery, streaming technologies and consumer-facing features and functionality.
Rovi added that the alliance "builds a combined and global intellectual property (IP) offering that leads the way in the discovery and personalization of digital entertainment."
"We are extremely pleased to join forces with Intellectual Ventures. Our alliance underscores Rovi's commitment to foster innovation across the media and entertainment landscape," said Samir Armaly, executive vice president, intellectual property and licensing at Rovi. "In addition to our advanced discovery product offerings, our collaboration with Intellectual Ventures will provide OTT licensees access to an even more extensive patent portfolio, all from a single provider."
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