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Article: DTS Sells Digital Images Business to Reliance Big Entertainment.
- Article from:
- Business Wire
- Article date:
- April 8, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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AGOURA HILLS, Calif. -- DTS, Inc. (Nasdaq: DTSI) today announced that the Company has completed the sale of its Digital Images business to Reliance Big Entertainment Ltd., a member of the Reliance ADA Group of India.
The sale, which closed on April 4 for approximately $7.5 million in cash, marks DTS' exit from the image enhancement and restoration services business.
"We are pleased to have completed this transaction, which takes us one step closer to our goal of focusing entirely on our consumer business," commented Jon Kirchner, president and CEO of DTS, Inc. "We are delighted to have concluded a deal with a global industry leader in the media and ...