Dolby Labs to acquire GE's licensing business in $429 million deal (updated)

Dolby Laboratories

06/06/2024 14:03

(Adds details throughout)
       June 6 (Reuters) - Dolby Laboratories  DLB.N  said on
Thursday it was acquiring GE Licensing, an intellectual property
business targeting the consumer digital media and electronics
sectors, in a $429 million deal.
        The takeover, which aims to further Dolby's existing
licensing businesses, comprises over 5,000 GE patents.
  
        However, it excludes aerospace and defense IPs belonging
to GE Aerospace  GE.N , as well as the GE brand's trademark
portfolio.
  
        The transaction is estimated to close by the end of
fiscal-year 2024 and is not expected to impact Dolby's 2024
results, the audio and imaging products maker said in a
statement.
  
        Dolby expects the deal to be accretive on an adjusted
basis to operating margins and profit per share in fiscal-year
2025.
  

 (Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Pooja
Desai)
 ((Aatreyee.Dasgupta@thomsonreuters.com;))