June 6 (Reuters) - Dolby Laboratories ( DLB ) said on

Thursday it was acquiring GE Licensing, an intellectual property

business targeting the consumer digital media and electronics

sectors, in a $429 million deal.

The takeover, which aims to further Dolby's ( DLB ) existing

licensing businesses, comprises over 5,000 GE patents.

However, it excludes aerospace and defense IPs belonging

to GE Aerospace, as well as the GE brand's trademark

portfolio.

The transaction is estimated to close by the end of

fiscal-year 2024 and is not expected to impact Dolby's ( DLB ) 2024

results, the audio and imaging products maker said in a

statement.

Dolby ( DLB ) expects the deal to be accretive on an adjusted

basis to operating margins and profit per share in fiscal-year

2025.