Patent licensing firm Tessera to buy audio technology company DTS

Reuters.com reports that patent licensing company Tessera Technologies Inc said on Tuesday that it would buy audio technology company DTS Inc for about $850 million in cash.

Tessera’s offer of $42.50 per DTS share is a 24 percent premium to the stock’s close on Monday.

The company said the deal would immediately add to its earnings per share and free cash flow.