Digital multimedia surround sound company DTS is acquiring digital audio processing technology firm SRS Labs in a friendly deal.
The deal, a cash and stock transaction, was calculated to be in the neighborhood of $148 million.
According to Jon Kirchner, DTS chairman and CEO, explained the acquisition of another software technology company, “SRS Labs and its strong portfolio of audio processing technologies are a natural strategic fit for DTS, with complementary technologies.”
He said that it should enable “DTS to accelerate our expansion in the key growth areas of mobile and other network-connected device markets, as well as to drive innovation.”
According to a release the addition should help DTS expand in the market for mobile and other network-connected devices with audio products like voice processing and audio rendering, for low-bit-rate applications through lossless audio delivery.
