Digital Theater Systems (DTS), the audio technology company which has made considerable inroads within the game industry, has submitted papers for an initial public offering.
The Agoura Hills, CA, company, which competes with Dolby as a purveyor of digital multichannel audio products and technology, hopes to raise up to $60 million with the IPO. In the game market, the company supplies a surround sound SDK for PS2 games. DTS-encoded titles for the PS2 include Grand Theft Auto: Vice City, FIFA 2003 Soccer, NHL 2003 Hockey, SSX Tricky, and Street Hoops. DTS posted net income of $4.4 million on revenue of $40 million in 2002, compared with $2.1 million in net income and $28.6 million in revenue a year earlier.
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