Xperi completes split

Xperi has completed its split into two separate companies.

First announced in February – and subsequently approved by its board in August – Xperi has split its product and licensing businesses into two independent standalone firms.  

The product business, which houses TiVo, IMAX Enhanced, HD Radio and DTS, will operate under the Xperi banner (trading as XPER). The remaining IP licensing business, which owns more than 10,000 patents and applications and will be run by Xperi veteran Paul E. Davis, will be named Adeia (trading as ADEA).

Xperi has now completed the split, and has celebrated its first day of trading under the XPER ticker. 

Commenting on the split, Xperi CEO Jon Kirchner said: “We are at an exciting juncture in our journey. Today we stand as an independent company with a strong balance sheet, an executive team with substantial tenure, and an exciting path to significant growth and profitability. The realization of this strategic milestone is the result of years of continuous effort.

“Our strategy is closely aligned with broad industry growth trends and creates a highly scalable revenue stream through engagement-based monetization. Our market engagement model is well positioned to drive partner adoption by allowing TV OEMs and automotive OEMs to brand the experience, retain customer ownership, and actively participate in long term revenue generation. Our strategic growth, market opportunity, and unique value proposition are demonstrated by recent high profile customer wins such as a key TV OS win with Vestel, one of the three largest global TV producers, wins with BMW and Mercedes in automotive, and numerous IPTV wins, supported by a strong pipeline across our portfolio.”