Rovi Corp. (Nasdaq: ROVI), which provides on-screen guides for pay-TV listings, agreed to buy digital-video recording pioneer TiVo Inc. (Nasdaq: TIVO) in a deal valued at $1.1 billion.

Rovi will pay $10.70 a share in cash and stock, a 40 percent premium over TiVo’s closing price of $7.66 on March 23, the last trading day prior to media speculation about a possible deal, according to a statement Friday. TiVo closed at $9.42 Thursday.

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