DTS sells digital cinema business for $3.3 million

DTS announces sale of digital cinema business for $3.3 million plus assumption of debt

 

http://money.cnn.com/news/newsfeeds/articles/apwire/69c9161bb8dbc4ef1fd601db4a060df9.htm

 

May 12, 2008: 04:49 PM EST

 

NEW YORK (Associated Press) - DTS Inc., which makes audio parts for speakers, DVD players and computers, said Monday it sold its digital cinema business to Beaufort California Inc., a member of U.K.-based Beaufort International Group PLC.

 

The sale closed on Friday for about $3.3 million in cash and the assumption of certain debt.

 

DTS said that under certain circumstances it also could get up to an additional $11.7 million over the next few years.

 

DTS shares rose 21 cents to $28.71 in aftermarket trading, after falling 34 cents to $28.50 in the regular session.