Dolby Laboratories acquires GE Licensing for $429M cash; accretive to FY2025 EPS

Dolby Laboratories, Inc.

All-cash purchase of GE Licensing from GE Aerospace for $429 million; portfolio includes over 5,000 patents in HEVC/VVC video codec.
Deal expected to close by end of fiscal 2024 (September 2024), subject to HSR clearance and other customary conditions.
Acquisition expected to be accretive on a non-GAAP basis to operating margins and EPS in fiscal 2025.
Dolby confirms no change to its quarterly dividend or stock repurchase program from this transaction.
GE Aerospace retains its core aerospace/defense IP and the GE brand trademark portfolio.

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