San Francisco - Dolby Laboratories (NYSE: DLB), a developer of audio and surround sound technology for cinema, broadcast, home audio systems and consumer electronics, announced on Friday that it will acquire Sweden-based Coding Technologies, a developer of audio compression technologies, for about $250 million.

Founded in 1997, Coding Technologies is know for its aacPlus audio codec; its technology is also included in open standards such as 3GPP, 3GPP2, MPEG, DVB, Digital Radio Mondiale, and DAB+.

San Francisco-based Dolby said the deal will broaden its technology portfolio for emerging low-bandwidth media applications.  

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http://www.dolby.com

http://www.codingtechnologies.com