February 25, 2014
Rovi announced that it is purchasing video discovery and voice search startup Veveo and the company’s IP for $62 million in cash and up to an additional $7 million based on performance milestones. The acquisition of Veveo’s technology is expected to bring new voice search capability to Rovi’s video discovery platform. Veveo uses natural language processing combined with semantic tech to integrate intuitive search and recommendation features into video discovery applications.
“The voice search engine can follow a wide range of conversational commands and learns as it goes, so that users don’t have to keep repeating themselves when searching through a bunch of videos,” reports TechCrunch.
“It can understand when users are searching for a specific movie, cast member, or genre, and can refine searches within those parameters based on additional information that the user provides. Over time, it can even offer personalized recommendations based on previous searches.”
Veveo is currently used by a number of device manufacturers and service providers. The company has 50 patents (with more than 30 additional applications filed).
“It’s that combination of IP and customers that probably has Rovi really excited,” notes the post. “By combining Veveo with its own metadata offering, Rovi should be able to get more customers to use its video discovery services, which can be embedded in connected devices, set-top boxes, and third-party video apps.”