DTS buys SRS Labs
July 26, 2012
By Chris Forrester
Hot on the heels of Dolby Labs’ purchase of a Spanish rival comes news that film and TV audio specialists DTS has wrapped its purchase of SRS Labs.
Both companies are NASDAQ registered, with SRS now ceasing its listing. DTS announced its SRS buy back in April in a deal worth some $148 million, and paying a 38 per cent premium for SRS’ stock.
“We are excited to have completed this transaction within our expected timeline and are now focused on executing a seamless integration,” said Jon Kirchner, DTS’ chairman and CEO. “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.”
DTS’ technology is a mandatory fixture on Blu-ray players, and is a well-respected option for movie-makers. While its corporate HQ is in California, its licensing arm operates out of Limerick, Ireland.