Exhibit 99.2
Dolby Laboratories to Acquire Coding Technologies
Pending Acquisition to Broaden Dolby's Technology Portfolio in the
Digital Broadcast, Mobile, and Internet Markets
SAN FRANCISCO & STOCKHOLM, Sweden--(BUSINESS WIRE)--Nov. 8,
2007--Dolby Laboratories, Inc. (NYSE:DLB) today announced that it has
signed a definitive agreement to acquire Coding Technologies AB, a
privately held provider of audio compression technologies for the
mobile, digital broadcast, and Internet markets, for a purchase price
of approximately $250 million net of cash. This acquisition will
broaden Dolby's technology portfolio and expertise for emerging
low-bandwidth media applications. The acquisition is expected to close
very soon and the closing mechanics are currently in process. Certain
minority equity interests of Coding Technologies will remain
outstanding and will be subject to mandatory buyout procedures under
Swedish law.
"Dolby is committed to and focused on delivering innovative
entertainment technology solutions to our customers and licensees. By
adding Coding Technologies' expertise and high-efficiency audio
compression to our portfolio of technologies and services, we will be
better positioned to support our customers as they continue to move
into more bandwidth-constrained delivery methods such as mobile
networks and the Internet," said Bill Jasper, President and CEO, Dolby
Laboratories. "In addition to extending our portfolio of solutions, we
are adding the talent and know-how of Coding Technologies' employees.
We share a passion for technology and entertainment and a focus on
innovation."
"We have long respected Dolby for its commitment to entertainment
technology and its innovative approach," said Martin Dietz, CEO and
President, Coding Technologies. "We are pleased to join forces with
Dolby and provide an additional line of complementary technologies to
our customers."
The Company's Conference Call Information
Members of Dolby management will discuss this acquisition during a
conference call open to all interested parties at 2:00 p.m. PT/5:00
p.m. ET, Thursday, November 8, 2007.
Access to the teleconference will be available over the Internet
from http://investor.dolby.com/medialist.cfm or by dialing
888-715-1397. International callers can access the conference call at
913-312-1438.
A replay of the call will be available beginning at 5:00 p.m. PT
on November 8, 2007 until 9:00 p.m. PT on November 15, 2007 at
888-203-1112 (international callers can access the replay by dialing
719-457-0802) using confirmation code 8475752. An archived version of
the teleconference will also be available on www.dolby.com.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. These
forward-looking statements relate to the company's expectations
concerning the potential benefits of its acquisition of Coding
Technologies, including the ability of Dolby to be better positioned
to support customers, the anticipated benefits to Dolby's and Coding
Technologies' customers and the complementary nature of the two
companies' technologies, the expected timing for the closing of the
acquisition, and other statements contained in the quotations from
management in this press release. These forward-looking statements are
based on information available to Dolby as of the date of this press
release. Dolby's current beliefs, expectations, and assumptions
involve a number of risks and uncertainties that could cause actual
results to differ materially from those anticipated by these
forward-looking statements. Such risks and uncertainties include a
variety of important factors, some of which are beyond Dolby's
control. In particular, such risks and uncertainties include the
possibility that the anticipated benefits to Dolby and Dolby's and
Coding Technologies' customers may not be realized, integration risks,
shifts in customer demand, technology risks, and risks associated with
the mechanics of the closing of the acquisition. Information
concerning additional important factors that could cause results to
differ materially from those projected in the forward-looking
statements is contained in Dolby's Securities and Exchange Commission
filings and reports, including the risks identified under the section
captioned "Risk Factors" in its Quarterly Report on Form 10-Q for
Dolby's fiscal quarter ended June 29, 2007, which is on file with the
SEC and available at the SEC's website at www.sec.gov. These
forward-looking statements should not be relied upon as representing
the company's views as of any subsequent date and Dolby undertakes no
obligation to update forward-looking statements to reflect events or
circumstances after the date they were made.
About Coding Technologies
Coding Technologies provides high-quality audio compression for
mobile, digital broadcasting, and the Internet. Coding Technologies
has offices in Sweden, Germany, China, and the US. Founded in 1997 in
Stockholm, the company's technologies are included in open standards
such as 3GPP, 3GPP2, MPEG, DVB, Digital Radio Mondiale, and DAB+.
About Dolby Laboratories
Dolby Laboratories (NYSE:DLB) develops and delivers products and
technologies that make the entertainment experience more realistic and
immersive. For more than four decades, Dolby has been at the forefront
of defining high-quality audio and surround sound in cinema,
broadcast, home audio systems, cars, DVDs, headphones, games,
televisions, and personal computers. For more information about Dolby
Laboratories or Dolby(R) technologies, please visit www.dolby.com.
Dolby and the double-D symbol are registered trademarks of Dolby
Laboratories. S07/18907 DLB-F
CONTACT: Dolby Laboratories, Inc.
Alex Hughes, 415-645-4572 (Investor Relations)
investor@dolby.com
Jeanne Alford, 415-645-5245 (Media)
news@dolby.com