Tuesday, April 8, 2008
DTS Sells Film Restoration Business
Agoura Hills-based DTS, which provides digital audio and other technology, said Tuesday afternoon that it has sold its Digital Images business in a $7.5M deal to Reliance Big Entertainment Ltd. The firm's DTS Digital Images unit was previously known as Lowry Digital Images, and provides film imaging and restoration services for Hollywood. According to DTS, the sale closed April 4 and was made up entirely in cash. Reliance Big Entertainment Ltd. is a unit of Reliance ADA Group of India. DTS said the move takes the firm one step closer to its goal of focusing entirely on its consumer business.