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Dolby acquires Doremi Labs

San Francisco-based Dolby Laboratories Inc., the developer of music and motion picture sound systems, announced on Monday it has acquired Doremi Labs.  The deal allows Dolby to advance the cinema experience for moviegoers with help from Burbank-based Doremi, a digital cinema technology company founded in 1985. The deal is valued at $92.5 million in cash plus an additional $20 million in contingent consideration that may be earned over a four-year period. Dolby, founded by Ray Dolby in 1965, developed a system that reduced background noise in tape recordings, enabling musicians to produce multitrack mixes without a hissing sound in the background. In the 1970s, the...

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