Dolby Buys Doremi Labs

San Francisco-based Dolby Laboratories said Monday afternoon that that has signed a definitive agreement to acquired Doremi Labs, a developer of digital video playback hardare, servers, format converters, and other products, in a deal worth $92.5M in cash plus $20M in contingent earn out over the next four years. Doremi had 130 employees, and was based in Burbank, California.