Dolby Laboratories completed the acquisition of a majority stake in Ittiam Systems.

Dolby Laboratories, an audio visual company, completed the acquisition of a majority stake in Ittiam Systems, an audio visual consultant. Financial terms were not disclosed. “This is a momentous occasion in the journey of Ittiam Systems, and the investment is intended to facilitate the delivery of next generation multimedia technologies and solutions. We are a unique company in India’s technology landscape focused on IP creation and recognized worldwide for quality, performance and reliability. So far, investors in Ittiam have been from the financial and venture capital community. The time is most appropriate now for Ittiam to have a globally admired brand and world leading IP company in Dolby as a strategic investor to open doors to new markets and guide our product roadmap,” Srini Rajam, Ittiam Systems Chairman and CEO.