Rovi Buys Sonic Solutions For $720M

Santa Clara-based Rovi Corporation said Wednesday that it is in a definitive agreement to acquire Novato-based Sonic Solutions, in a deal worth approximately $720M. Rovi said it would pay $14.17 per share for Sonic Solutions, which develops digital video processing software and othe products. Rovi is a developer of digital entertainment guide and other related products. Rovi said that, among the benefits of the acquisition, Roxio's RoxioNow digital media delivery service will expand its advertising distribution opportunity.