(Telecompaper) Rovi will be acquiring TiVo for USD 10.70 per share in cash and stock, translating into a total of USD 1.1 billion. The new company will continue to be led by Rovi CEO Tom Carson and upon closing of the transaction will adopt the TiVo brand as the new company name. The offer represents a premium of 40 percent over TiVo's closing price on 23 March. Rovi will finance the deal from cash on hand. The combined company will then have an estimated USD 150-270 million cash on hand at closing.