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Rovi announces agreement to acquire Sonic Solutions for $720 million
Rovi Corporation has already gone though a few significant transformations -- it was once the DRM-centered company known as Macrovision -- and it's now set to undergo another big one. The company has just announced a "definitive agreement" to acquire Sonic Solutions in a deal valued at $720 million. Among other things, Sonic owns RoxioNow (the service formally known as CinemaNow), which will give Rovi access to over 10,000 movies and TV shows, and Sonic also just acquired DivX earlier this year, which Rovi points out has a presence on more than 350 million consumer electronics devices. Head on past the break for the official press release, and look for the deal to close sometime in the first quarter of next year if all goes according to plan.
