Xperi - XPER STOCK NEWS

Xperi Holding Corporation (XPER) has announced the Spin-Off of its product business, Xperi Inc., from its IP licensing business, Adeia. Stockholders on record as of September 21, 2022, will receive four shares of Xperi Inc. Common Stock for every ten shares of XPER they hold, with the Spin-Off expected around October 1, 2022. Xperi Inc. will trade independently on the NYSE under the symbol XPER. Following the Spin-Off, Xperi Holding will be renamed Adeia Inc., trading under ADEA. The Spin-Off is subject to customary conditions, including SEC approval.

Xperi Holding Corporation (NASDAQ: XPER) has partnered with Vestel to launch the first TiVo OS-powered smart TVs in Europe, set to ship in 2023. TiVo OS aims to create a neutral media platform, enhancing user control and simplifying content discovery. The agreement is a multi-year, multi-million-unit deal, which positions Xperi to capture a significant share of the estimated 40% of the smart TV market seeking independent platforms. With the connected TV advertising market projected to grow from $16 billion to $36 billion by 2026, this partnership highlights a strategic move to leverage advertising opportunities for OEMs.

Xperi Holding Corporation (NASDAQ: XPER) will unveil new products at IFA in Berlin, enhancing DTS Play-Fi's capabilities. This technology supports 7.1.4 surround sound, positioning it as a leader in whole home wireless audio solutions. Collaborations with Vestel and Philips will introduce DTS Play-Fi enabled TVs, bringing access to services like Tidal and Amazon Music, and multi-room audio. The Play-Fi Home Theater system will also extend to Philips TVs, featuring wireless surround sound with no additional equipment required. Furthermore, gapless playback is now available in the DTS Play-Fi App.

Xperi Holding Corporation (XPER) will host a virtual Investor Day on September 20, 2022, at 8:30 AM ET. This event comes ahead of the planned separation into two distinct companies: Xperi and Adeia. Senior leaders will provide insights into each entity's strategies and growth prospects. The aim of this separation is to enhance shareholder value and allow each company to pursue unique market opportunities. The live webcast will be available on Xperi's website, with a replay accessible within 24 hours.

Xperi Holding Corporation (NASDAQ: XPER) has announced the formal approval of its separation into two independent public companies. The product business will operate as Xperi Inc., trading on the New York Stock Exchange under the symbol 'XPER'. Meanwhile, the remaining IP licensing business will be named Adeia Inc., trading on Nasdaq as 'ADEA'. This tax-free distribution of shares is set to benefit existing shareholders, who will automatically receive shares in the new entity without needing to take action.

Xperi Holding Corporation (NASDAQ: XPER) announced its second quarter financial results for 2022, reporting revenues of $234 million, a 5% increase from the previous year. The company signed key agreements, including a long-term renewal with a major consumer electronics provider and its first TV customer for TiVo OS. Xperi acquired Vewd, enhancing its streaming media platform with access to 15 million devices. Despite this growth, the company expects increased operating expenses and has adjusted its full-year financial outlook.

Xperi Holding Corporation (NASDAQ: XPER) announced the appointment of Keith Jones as CFO of Adeia, its intellectual property (IP) business, effective August 8, 2022. Jones joins from Rambus (NASDAQ: RMBS), where he served in various finance roles, including Interim CFO. His leadership experience in IP licensing and public companies is seen as a strategic fit for Adeia as it prepares for its upcoming separation and public listing. Paul Davis, President of Adeia, expressed confidence in Jones's ability to enhance the company's market position.

Xperi Holding Corporation (NASDAQ: XPER) will release its financial results for Q2 2022 on August 8, 2022, after market close. An earnings conference call will follow at 2 PM PT (5 PM ET). Callers in the U.S. can dial 888-394-8218, while international participants should use +1 646-828-8193 with Conference ID: 9128537. Xperi specializes in technologies that enhance entertainment and smart devices, delivering solutions across billions of consumer devices globally.

Xperi Holding Corporation (NASDAQ: XPER) has acquired Vewd Software Holdings Limited for $109 million in cash and debt. This acquisition positions Xperi as a leading independent streaming media platform through its TiVo brand. Vewd, known for its OTT and hybrid TV solutions, ships products to over 30 million connected TV devices annually. The deal includes access to 15 million European devices, enabling monetization opportunities via TiVo+. Xperi expects an additional $10 million in revenue in H2 2022 and significant growth in 2023.