Universal Electronics Inc. (UEI) (Nasdaq:UEIC) announced today that its wholly owned subsidiary, Universal Electronics BV (UE BV), has signed an agreement with TiVo Inc. (NASDAQ: TIVO), that authorizes UE BV to produce and supply the iconic TiVo “peanut” remote to designated TiVo service provider customers globally.
The agreement authorizes Universal Electronics to supply remote controls for designated TiVo branded services in the international market that currently include media service providers such as Virgin Media in the United Kingdom and Com Hem in Sweden. TiVo is well known for its focus on the user experience, developing intuitive search and browse capabilities in its solutions, while Universal Electronics has successfully built a reputation for extending those qualities to the handheld control device.
“Choosing Universal Electronics to become the first participant of the TiVo Verified remote control program was an easy choice for us,” said Joshua Danovitz, Vice President, GM of International at TiVo. “They have a solid reputation as a high quality manufacturer and a technology leader with a global reach. It is a good match for TiVo and our global customers, further showcasing our commitment to delivering the best TiVo experience.”
Paul Arling, Chairman and CEO of Universal Electronics said, “TiVo and the iconic ‘peanut’ remote are symbols of a brand that is known for its leadership in intuitive user interfaces and award winning designs. This agreement provides a strong partnership dedicated to the user experience and to quality products for TiVo and Universal Electronics customers.”The first TiVo-based remote control products manufactured by Universal Electronics are anticipated to begin shipping to international customers in December 2012. About TiVo Founded in 1997, TiVo Inc. (NASDAQ: TIVO) developed the first commercially available digital video recorder (DVR). TiVo offers the TiVo service and TiVo DVRs directly to consumers online at www.tivo.com and through third-party retailers. TiVo also distributes its technology and services through solutions tailored for cable, satellite, and broadcasting companies. Since its founding, TiVo has evolved into the ultimate single solution media center by combining its patented DVR technologies and universal cable box capabilities with the ability to aggregate, search, and deliver millions of pieces of broadband, cable, and broadcast content directly to the television. An economical, one-stop-shop for in-home entertainment, TiVo's intuitive functionality and ease of use puts viewers in control by enabling them to effortlessly navigate the best digital entertainment content available through one box, with one remote, and one user interface, delivering the most dynamic user experience on the market today. TiVo also continues to weave itself into the fabric of the media industry by providing interactive advertising solutions and audience research and measurement ratings services to the television industry. www.tivo.com. TiVo, the TiVo Logo, Season Pass and WishList are trademarks or registered trademarks of TiVo Inc.'s subsidiaries worldwide. © 2012 TiVo Inc. All rights reserved.
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