09:00 AM EDT, 06/06/2024 (MT Newswires) -- Dolby Laboratories ( DLB ) said Thursday that it had acquired GE Licensing, an intellectual property licensing business, from GE Aerospace (GE), for $429 million in cash.

Dolby ( DLB ) said GE Aerospace would keep its aerospace and defense IP and the GE brand trademarks.

Dolby said the deal, slated to be completed by the end of fiscal 2024, is not likely to have a material impact on its fiscal 2024 results. The company said it expects the deal to be accretive to its non-GAAP earnings per share in fiscal 2025.