Shares of TiVo (TIVO) are rising after the company announced an expanded multi-year patent agreement with Alphabet's Google (GOOG, GOOGL).

EXPANDED PATENT AGREEMENT: On Thursday, TiVo Corporation announced that Google expanded its multi-year patent license agreement to expressly include YouTube TV. The agreement covers Google's use of TiVo's patented technologies worldwide and offers a license for Google's products and services across internet-based platforms and devices. “The world of video entertainment is expanding with exciting new consumer offerings such as YouTube TV,” said Arvin Patel, executive vice president and chief intellectual property officer at TiVo's Rovi Corporation. “We are thrilled to extend our relationship with Google through the license of TiVo's innovations and technology that further consumers' ability to find and enjoy content on the device of their choice.”

PRICE ACTION: TiVo was up 2%, or 25c, to $14.75 in morning trading.