HD Radio technology was originally developed by iBiquity Digital Corporation. In 2015, iBiquity was acquired by DTS for $172 million. DTS was subsequently acquired by Tessera Technologies in December 2016, and the combined company was renamed Xperi Corporation in February 2017. HD Radio is the most successfully deployed commercial digital radio system worldwide, currently installed in over 110 million vehicles. The technology enables extraordinary subscription-free digital radio experiences by broadcasting digitally over traditional radio waves, allowing a single frequency to deliver up to four stations of content in crystal-clear sound. Xperi, headquartered near Boston with approximately 2,000 employees globally, continues to develop and enhance HD Radio technology with features like artist information, bookmarks, real-time updates, and emergency alerts.