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Dolby Signs Agreement to Acquire BrightSide
SAN FRANCISCO, Feb 27, 2007 (BUSINESS WIRE) -- Dolby Laboratories (NYSE:DLB) today announced it has signed a definitive agreement to acquire BrightSide Technologies Inc., a privately held provider of high dynamic range (HDR) image technology, for cash consideration of approximately $28 million. The transaction is subject to customary closing conditions and is expected to be completed prior to the end of the third quarter of Dolby's 2007 fiscal year.
BrightSide is a development-stage technology company focused on enabling the capture, distribution, and display of more vibrant video on mass-market LCD TV sets, as well as front-projection and rear-projection TVs.
"Dolby has built its strong reputation and brand by delivering products and technologies that make the entertainment experience more realistic and immersive, and BrightSide's HDR image technology complements that strategy," said Bill Jasper, President and Chief Executive Officer, Dolby Laboratories. "Acquiring BrightSide reflects our long-term focus on delivering innovative technology solutions to our licensees and their customers."
About Dolby Laboratories
Dolby Laboratories (NYSE:DLB) develops and delivers products and technologies that make the entertainment experience more realistic and immersive. For more than four decades, Dolby has been at the forefront of defining high-quality audio and surround sound in cinema, broadcast, home audio systems, cars, DVDs, headphones, games, televisions, and personal computers. For more information about Dolby Laboratories or Dolby(R) technologies, please visit www.dolby.com.
Certain statements in this press release, including statements relating to Dolby's expectations concerning its ability, and Dolby's expectations concerning how BrightSide's HDR image technology complements that ability, to deliver innovative products and technologies that make the entertainment experience more realistic and immersive and to deliver innovative technology solutions to its licensees and their customers and the benefits that may be derived therefrom are "forward-looking statements" that are subject to risks and uncertainties. These forward-looking statements are based on management's current expectations, and as a result of certain risks and uncertainties actual results may differ materially from those projected. The following important factors, without limitation, could cause actual results to differ materially from those in the forward-looking statements: Dolby's ability to develop and deliver innovative technologies in response to new and growing markets in the entertainment industry, including markets using imaging technologies; Dolby's ability to expand its business into non-sound technologies, including imaging technologies; competitive risks; risks associated with integrating and operating BrightSide's business; and other risks detailed in Dolby's Securities and Exchange Commission filings and reports, including the risks identified under the section captioned "Risk Factors" in its most recent Quarterly Report on Form 10-Q. Dolby disclaims any obligation to update information contained in these forward-looking statements whether as a result of new information, future events, or otherwise.
Dolby and the double-D symbol are registered trademarks of Dolby Laboratories. S07/18042
SOURCE: Dolby Laboratories
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Copyright Business Wire 2007
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