Roku turned in Q1 2025 earnings that edged over Wall Street forecasts and announced a $185 million deal to buy streaming service Frndly TV.

Roku is paying $185 million to acquire Frndly TV, a provider of low-cost TV bundles delivered via streaming. The all-cash deal includes $75 million in holdbacks tied to certain performance targets and milestones over the next two years.

Roku, Inc. (NASDAQ: ROKU) has entered into a definitive agreement to acquire Frndly TV, a leading low-cost live TV streaming service, in a transaction valued at up to $185 million in cash. The Roku $185M Frndly TV Acquisition is expected to strengthen Roku’s subscription business and expand its live TV content offerings.