12.22.2010 - Rovi Corporation Enters Definitive Agreement to Acquire Sonic Solutions

SANTA CLARA and NOVATO, Calif., December 22, 2010 - Rovi Corporation (NASDAQ: ROVI) and Sonic Solutions (NASDAQ: SNIC) today announced that the two companies have signed a definitive agreement for Rovi to acquire Sonic in a stock and cash transaction. The enterprise value of the transaction is approximately $720 million and the per share value of Sonic common stock at signing of the agreement is $14.17, a 38.2 percent premium to Sonic's 30 day average per share closing price as of December 21, 2010. The acquisition is structured as an exchange offer for all of the outstanding shares of Sonic common stock, to be followed by a merger. - View Press Release - Visit Sonic Solutions. - Visit Rovi Corporation