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Rovi, the digital entertainment tech firm that powers VoD offerings by numerous high street retailers, has put its Rovi Entertainment Store business up for sale.
The firm said the move is part of an effort to focus on its “core enabling technologies and services,” and it has enlisted GCA Savvian Advisors as financial advisor for the potential sale.
Rovi acquired the Entertainment Store side of its business as part of its US$720m takeover of Sonic Solutions, which was completed in February 2011. It offers white label OTT storefronts for retailers including Sainsbury’s, Dixons and Toys ‘R’ Us as well as content owners and electronics manufacturers.
Rovi CEO Tom Carson said the Entertainment Store had grown significantly in the time it has been owned by Rovi, but the firm is working to “increase operational efficiencies around a strategic plan building on our core assets and IP.”
Rovi’s other assets cover content discovery, advertising and distribution. The firm’s TotalGuide provides TV listings and data, its advertising service works across different platforms, while it also offers video playback and content production tools.
The firm said that with its Entertainment Store to be reclassified as discontinued operations, it has revised its full-year revenue estimates for fiscal 2012 to US$645m-US$650m, down from US$645m-US$655m.
