Roku products are displayed on a shelf at a Best Buy store on February 18, 2022 in San Rafael, California.
Justin Sullivan | Getty Images
Fox signed an agreement to acquire Roku in a deal valued at about $22 billion, the companies said.
Roku is one of the first companies to bring streaming platforms like Netflix and YouTube to television through connected devices and smart TVs.
Its business is largely driven by advertising and subscription revenue from streaming apps on its platform. Advertising is the largest component, with revenue of $613 million in the first quarter, up 27% year-on-year.
Fox will acquire Roku for $160 per share in a cash-and-stock deal, which represents a premium of 11.4% to Roku’s last close.
The deal is expected to close in the first half of calendar year 2027.
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