• Bloomberg, Thursday, December 23, 2010 1:59 PM

To expand in digital entertainment services, Rovi Corp plans to acquire Sonic Solutions, reports Bloomberg. A provider of parental controls and interactive video systems, Rovi plans to use technologies available to its TotalGuide customers to power Sonic's RoxioNow services, a move that will "result in accelerated uptake of premium content," according to the company, adding that the proposed acquisition of Sonic has an enterprise value of about $720 million.

Citing Rovi's official statement, Bloomberg notes: "Sonic investors may opt to sell their shares to Rovi at $14 apiece, or receive 0.2489 Rovi share for each of Sonic that they hold." Sonic directors and senior management owning about 11.2% of the company's equity have reportedly accepted Rovi's offer of $14 a share -- 25% more than Sonic's closing price in Nasdaq Stock Market trading on Wednesday.

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