DTS Buys SRS Labs
DTS, Inc. said this week that it has agreed to purchase SRS Labs. The deal is a cash-and-stock transaction worth approximately $148 million in aggregate equity value.
The deal, the companies said, combines DTS’ suite of audio solutions and SRS Labs’ range of audio processing technologies.
“We are pleased to provide our shareholders an attractive premium,” Thomas C.K. Yuen, SRS Labs’ chairman, CEO and president, said in a statement. “As consumers increasingly demand higher quality audio experiences everywhere from their mobile devices to their homes, this combination benefits our customers and employees by creating significant scale and penetrating new markets. We look forward to making the collective resources of a larger company available to our customers around the world, who will also benefit from superior customer service.”