(Reuters) – TiVo Corp (TIVO.O) has started evaluating a wide range of strategic options including the possibility of going private, the set-top box maker said on Tuesday.
The San Jose, California-based company’s shares were up 13 percent at $15.30 in after-hours trading.
“TiVo’s stock price is at a level that the company and its board do not believe reflects the true value of the business,” the company said.
TiVo is also considering options including acquisitions and merging with leading players, it said.
The company, which also reported fourth-quarter results, said it has engaged LionTree Advisors to assist in the evaluation.
TiVo’s profit came in at $18.4 million, or 15 cents per share, in the quarter ended Dec. 31, compared with $9.8 million, or 8 cents per share, a year earlier.
Reporting by Nikhil Subba in Bengaluru; Editing by Maju Samuel