SAN FRANCISCO—Dolby Laboratories has inked a definitive agreement to acquire GE Licensing, owner of a large portfolio of intellectual property related to consumer digital media and electronics, the company said today.
Among GE Licensing’s 5,000 patents are foundational patents in video compression. The acquisition will extend Dolby’s licensing business and complement its media patent holdings by adding GE Licensing’s portfolio of video codec technology, including patents related to High Efficiency Video Coding (HEVC) and Versatile Video Coding (VVC).
“GE Licensing is home to a number of essential innovations that power the modern world” said Andy Sherman, Dolby executive vice president for patent licensing and general counsel. “An important part of Dolby’s strategy is providing value to our customers, partners, and the industry through open standards and collaborative pool licensing. This acquisition gives us the opportunity to continue to promote and support innovation within our ecosystems.”
GE Aerospace will retain its portfolio of intellectual property related to aerospace and defense technologies as well as the trademark portfolio of the GE brand, Dolby said.
“Dolby is a trusted leader and innovator with a long history in licensing technologies and patents through collaborative structures,” said Robert Giglietti, GE Aerospace’s CEO of corporate holdings and treasurer. “As GE Aerospace continues to sharpen its focus as a standalone company serving aerospace and defense customers, Dolby is the right partner for ensuring these innovative digital media technologies continue to serve businesses and consumers around the world.”
More information is available on the company’s website.
