DTS (DTSI) Settles Legal Matters with Zoran Corp (ZRAN); Announces New Licensing Agreement
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DTS (Nasdaq: DTSI) has settled all of its outstanding legal matters with Zoran Corporation (Nasdaq: ZRAN). As a result, Zoran has entered into a new DTS license agreement for DTS technologies required for both DVD-Video and Blu-ray products, including DTS-HD Master Audio.
"We are pleased to have reached a positive resolution to our dispute and litigation with Zoran. Importantly, the settlement provides for the continued protection of consumers, DTS licensees, and DTS' intellectual property, contributing to the healthy growth of the exciting high definition Blu-ray format. We believe that our investment in pursuing these matters was critical to support our long-term interests and those of our licensee partners, and are satisfied that the net result of the settlement will have a modestly positive impact on our financials," commented Jon Kirchner, President and CEO of DTS, Inc. "We are also pleased to announce that Zoran is once again a licensee and look forward to certifying their integrated circuits as they become available."
DTS, Inc. provides entertainment technologies that are incorporated into an array of entertainment products.[SM]
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