Effective Dec. 1, product and technology licensing company Tessera Holding Corp. has completed the acquisition of DTS, Inc., parent company of HD Radio. The deal was originally announced in late September.
According to the release, the newly combined company plans to introduce a new corporate name, stock ticker, brand and logo during the first quarter of 2017 but is currently trading on the NASDAQ under Tessera’s ticker symbol “TSRA.”
“DTS has always been a leading innovator in the audio space,” Tessera Holding Corp. President Jon Kirchner said in the release. “We are proud to unite with Tessera to innovate a new generation of smart sight and sound solutions that will power the next wave of content delivery and electronic devices. These solutions will help deliver ever more immersive experiences and help transform how we interact with the rapidly growing number of connected devices at home, in the car and on the go.”
Kirchner was formerly the chairman and CEO of DTS Inc.