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Dolby Laboratories (NYSE: DLB) announced an agreement to acquire GE Licensing from GE Aerospace for $429 million in cash. The acquisition, which includes over 5,000 patents in video codec technology, aims to strengthen Dolby’s licensing business and foster future growth. GE Aerospace will retain its aerospace and defense IP portfolio. The transaction is expected to close by the end of fiscal 2024, subject to regulatory approval, and is anticipated to be accretive to Dolby’s operating margins and EPS in fiscal 2025. This deal will not impact Dolby's dividend or stock repurchase practices.