DTS Completes SRS Labs Acquisition24 Jul, 2012 By: Chris Tribbey
Audio technology company DTS has completed its acquisition of audio processing and enhancement company SRS Labs.
The cash-and-stock transaction is valued at approximately $148 million, with DTS paying approximately $38 million in cash and buying all outstanding shares of SRS Labs at $9.50 per share.
The acquisition gives DTS a suite of audio processing technologies to pair with its own audio solutions.
“We are excited to have completed this transaction within our expected timeline and are now focused on executing a seamless integration, ensuring that our customers receive unparalleled service,” said DTS CEO and chairman Jon Kirchner. “This transaction combines two highly complementary product and technology portfolios, bringing together DTS’ high-performance audio solutions and SRS Labs’ suite of audio processing technologies. In addition, this transaction further expands DTS’ already sizeable portfolio of audio-related intellectual property, creating one of the broadest in the industry.”