Mumbai: Reliance Big Entertainment has acquired US based DTS’ Digital Images business for $7.5 million.
The acquistion was made on 4 April in cash and marks DTS’ exit from the image enhancement and restoration services business.
Reliance senior vice president Anil Arjun said, "DTS Digital Images, also popularly known as Lowry Digital Images, enjoys a superb reputation as the premier film imaging and restoration facility. The company fits well with the Digital Services strategy of the Reliance ADA Group in the global media and entertainment space."
"We are pleased to have completed this transaction, which takes us one step closer to our goal of focusing entirely on our consumer business. We are delighted to have concluded a deal with a global industry leader in the media and entertainment space that will continue to build on the considerable talent and technology of the Digital Images business and continue to serve our long-term customers," said DTS president and CEO Jon Kirchner.