Dolby to Acquire Imaging Technology Company
has signed a definitive agreement to acquire BrightSide Technologies Inc.
, a privately held provider of high dynamic range image technology, for $28 million cash.
Canada's BrightSide has developed a suite of HDR technologies 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. The Vancouver, B.C-based company is a spinoff from the University of British Columbia.
"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 CEO of Dolby Laboratories. "Acquiring BrightSide reflects our long-term focus on delivering innovative technology solutions to our licensees and their customers."
The transaction is subject to customary closing conditions. It is expected to be complete prior to the end of the third quarter of Dolby's 2007 fiscal year.