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Acquisition to strengthen Dolby's licensing businesses and create opportunity for future growth
SAN FRANCISCO, June 6, 2024 /PRNewswire/ -- Dolby Laboratories, Inc. (NYSE:DLB), a leader in immersive entertainment experiences, announced today that it has entered into a definitive agreement to acquire GE Licensing, which owns, maintains, and licenses an extensive portfolio of IP primarily targeting the consumer digital media and electronics sectors.
Financial Considerations
Dolby Laboratories has agreed to acquire GE Licensing, an intellectual property licensing business primarily targeting the consumer digital media and electronics sectors, in a $429 million all cash transaction. This deal is expected to close by the end of fiscal year 2024, subject to regulatory approval and other customary closing conditions, and is not expected to have a material impact on Dolby's fiscal year 2024 results. This transaction includes attractive complementary assets that strengthen and expand Dolby's patent portfolios, and represents a compelling financial profile of durable, high-margin revenue. Dolby expects the deal to be accretive on a non GAAP basis to operating margins and EPS in fiscal 2025.
