Xperi and TiVo Announce HSR Clearance

SAN JOSE, Calif.--(BUSINESS WIRE)--Xperi Corporation (Nasdaq: XPER) and TiVo Corporation (Nasdaq: TIVO) today announced that they have received notification of early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) with respect to the all-stock merger of equals transaction of Xperi and TiVo. The early termination of the waiting period under the HSR Act satisfies one of the conditions to the closing of the transactions contemplated by the previously announced Agreement and Plan of Merger and Reorganization (the “Merger Agreement”) made and entered into as of December 18, 2019, by and among Xperi, TiVo, XRAY-TWOLF Holdco Corporation (“Holdco”), XRAY Merger Sub Corporation, and TWOLF Merger Sub Corporation. The consummation of such transactions remains subject to other customary closing conditions set forth in the Merger Agreement, including receipt of the approval of the stockholders of Xperi and TiVo.