(Corrects to say "audio technology company" not "audio equipment maker" in headline and first paragraph)
(Reuters) - 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.
(Reporting by Rishika Sadam in Bengaluru; Editing by Savio D'Souza)
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