B. Riley Downgrades DTS Inc. (DTSI) to Neutral
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Tessera Technologies (TSRA) to Acquire DTS (DTSI) for $850M
September 20, 2016 7:01 AM EDTTessera Technologies, Inc. (NASDAQ: TSRA) and DTS, Inc., (NASDAQ: DTSI) announced that they have entered into a definitive agreement under which Tessera will acquire DTS for $42.50 per share, representing a 28% premium to DTSs 30-day volume weighted average price as of September 19, 2016. The all-cash transaction is valued at approximately $850 million.
The transaction will combine market leading audio and imaging innovators with complementary products, technologies, customer channels and intellectual property assets to enable the creation of an expanded, integrated platform to invent the future of... More
