AGOURA HILLS, Calif.—Aug 9, 2006
DTS Accelerates Entry into the D-cinema Market; Company Announces Exclusive Licensing Agreement with Avica Technology Corporation
DTS, Inc. (Nasdaq:DTSI) today announced that it has entered into an exclusive licensing agreement with Avica Technology Corporation, a recognized name in the digital cinema market. The license agreement provides DTS exclusive global rights to exploit Avica's suite of technologies, products and services. This agreement leverages existing DTS technologies, including the recently completed acquisition of the Digital Booking Systems software, and positions DTS to compete more aggressively in the emerging D-cinema market.
Under the terms of the transaction, DTS also has the exclusive option to acquire the assets of Avica.
"This licensing agreement with Avica significantly accelerates our entry into the digital cinema market and we are very optimistic that we will play an important role in the industry's transition toward the complete digital delivery of entertainment content," commented Jon Kirchner, president and CEO of DTS. "The addition of Avica's technology and product suite to our existing cinema and digital images offerings creates a unique and compelling solution for content creators, distributors and exhibitors as the world broadly adopts digital content distribution and exhibition platforms.
"Avica is delighted to be supporting our new partner in digital cinema and we look forward to working closely with the DTS team to develop this emerging market," said Nicholas Clay, chairman and CEO of Avica Technology Corporation.