Media

DivX Buys AnySource Media In Up To $15M Deal

 

SAN DIEGO (AP) — Video technology company DivX Inc. said Tuesday that it bought AnySource Media LLC in a deal valued at up to $15 million.

DivX paid $7.5 million in cash at closing. Additional cash payments of up to $7.5 million will be payable over three years upon the achievement of certain technical, and revenue and distribution milestones, DivX said in a statement.

No further financial details were provided.

AnySource Media, based in Malvern, Pa., is the creator of an Internet television streaming platform that lets users connect their TVs to the Internet.

The acquisition will increase DivX's costs by about $1.3 million, or 2 cents per share, for the remainder of the year, said Dan Halvorson, the company's chief financial officer.

"The AnySource streaming platform combined with our high-quality device certification program and our deep relationships with both consumer electronics companies and Hollywood studios puts us in an enviable position in this rapidly emerging market," DivX CEO Kevin Hell said in a statement.

DivX shares fell 17 cents to close earlier at $5.05.

>To order reprints of this article, click here: Reprints

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

TheStreet Premium Services

Jim Cramer
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
OptionsProfits
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn More
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
Dow Jones S&P 500 NASDAQ 10-Year Note
12,454.83 1,317.82 2,837.53 17.45
Oil *
107.03
DOWN
74.92
DOWN
2.86
DOWN
1.85
DOWN
0.14
10 Yr
1.74%
SPDR Gold
152.68
-0.60%
-0.22%
-0.07%
-0.80%
Data delayed 20 minutes

Top Stories and Tools

Articles From

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

We respect your privacy.
Podcasts

Connect with TheStreet