DTS Buys iBiquity Digital For $172M

Calabasas-based audio processing technology developer DTS has acquireed iBiquity Digital Corporation, in a deal worth $172M, the company said this morning. iBiquity Digital develops an audio and data broadcasting technology called HD Radio. DTS said the deal will be funded via cash on hand and debt. iBiquity's technology is used to convert AM/FM broadcasting from analog to digital format, and it heavily used by automotive OEMs; DTS said that every one of the 36 major auto brands in the U.S. offers HD Radio on their vehicles, with about 35% of cars now being built with HD Radio as standard equipment. iBiquity was based in Columbia, Maryland, and had 120 employees.