(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 11 percent at $15.15 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.

The company is also considering options such as acquisitions and merging with leading players and has engaged LionTree Advisors to assist in the evaluation, it said.

TiVo sells subscriptions directly to customers with its video recorders and also licenses its technology to cable TV operators that rent recorders to subscribers.

The announcement comes two months after sources told The Street that multiple buyers have expressed interest in acquiring Tivo. (bit.ly/2Fcab0Y)

The company has made several executive appointments last year, including that of AT&T Inc T.N executive Enrique Rodriguez as chief executive.

On Tuesday, TiVo also reported an 88 percent rise in fourth-quarter profit to $18.4 million, or 15 cents per share, as it recorded a tax benefit of $26.6 million due to changes in the U.S. tax law.