80.3 F
San Fernando
Monday, May 23, 2022
Array

Burbank Company Acquired by Dolby

Doremi Labs, a Burbank digital cinema equipment company, was acquired by Dolby Laboratories Inc., in a $92.5 million deal that closed on Monday. Dolby is a San Francisco-based developer of audio and video technology for use in theaters, the home and on mobile devices. Doremi Labs makes digital-cinema projectors, storage servers and theater-management software. The acquisition was originally announced in February. Dolby Chief Executive Kevin Yeaman said Doremi’s technology will boost the company’s theatrical business. “Delivering deeply integrated audio/video playback solutions will allow us to accelerate innovation and deliver amazing experiences for exhibitors and audiences,” Yeaman said, in a prepared statement. In addition to the $92.5 million in cash for the company, there is a possible $20 million contingent earn-out over the next four years.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

Featured Articles

Related Articles