Tessera Technologies
to Acquire DTS
September 20, 2016

Tessera Technologies to Acquire DTS

SAN JOSE, Calif. & CALABASAS, Calif.--(BUSINESS WIRE)--Tessera Technologies, Inc. (NASDAQ: TSRA) (“Tessera” or the “company”), a leader in developing innovative imaging and semiconductor packaging and bonding technologies and DTS, Inc., (NASDAQ: DTSI) (“DTS”) a premier audio solutions provider for mobile, home, and automotive markets, today 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 DTS’s 30-day volume weighted average price as of September 19, 2016. The all-cash transaction is valued at approximately $850 million.

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