Doremi Labs Acquired By Dolby

Burbank-based Doremi Labs, a developer of digital video playback hardare, servers, format converters, and other products, has been acquired by Dolby Laboratories, the two said late Monday, in a deal worth $112.5M after earn out. According to Dolby, it will pay $92.5M in cash plus an additional $20M in contingent consideration over the next four years. Doremi Labs--which was founded in 1985--develops media server hardware, digital cinema players, theater management systems, post production equipment, and other related hardware. The company had been founded by Camille Rizko, and has around 130 employees.