DTS, Inc. (DTSI) to Acquire Arctic Palm Technology; No Terms

October 6, 2016 8:31 AM EDT

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DTS, Inc. (Nasdaq: DTSI) announced the acquisition of Arctic Palm Technology, Inc., a leading radio technology company with a diverse portfolio of broadcast radio solutions and an extensive installed base of customers as DTS continues to expand its broadcast radio technology offerings.

Arctic Palm has extensive experience in broadcast studio operations and services with deep knowledge in broadcast metadata and platform integration to develop customized media solutions software. More than 2,700 stations have licensed Arctic Palm software with a significant customer base in the U.S. and Canada. Among Arctic Palm's broadcast customers are NPR, Entercom, Townsquare, Saga, Cumulus, Bell Media, CBC and Corus. Arctic Palm is based in London, Ontario, Canada. Over the last decade, Arctic Palm has developed a number of solutions to support the broad range of HD Radio Advanced Services and most recently has been a critical partner in the Public Radio Satellite Services Metapub initiative to enhance the public radio listener experience.

"We are committed to enabling the delivery of a robust entertainment experience to listeners anywhere, any time, on any device," said Jon Kirchner, chairman and CEO, DTS, Inc. "The acquisition of Arctic Palm contributes meaningful capabilities to our portfolio of broadcast products and will enable our broadcast radio partners to meet the changing demands of their audience. As the automotive industry works to enrich the digital dash, broadcast radio around the world will need to enhance its service offerings with platforms such as Arctic Palm. DTS will continue to leverage its resources to deliver a global service combining broadcast and IP-delivered content."

"This is an exciting time for Arctic Palm," said Stu Buck, founder and CEO, Arctic Palm. "DTS has been very clear on its commitment to radio and pushing innovation that will benefit the broadcast industry as well as listeners around the world, and we are proud to be a part of the DTS family."

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