Novato, Calif. – Sonic Solutions (NASD: SNIC), the owner of the CinemaNow
online movie distribution service, said on Friday it has completed its $323
million acquisition of DivX, the San Diego-based developer of a video codec and
The cash and stock deal was first announced in June.
Sonic said the acquisition will allow it to broaden the technology it offers
for Internet-based video delivery, as well as expand its relationships with
retailers and consumer device makers.
DivX’s video format currently resides on
over 300 million shipped devices, including 8,500 models of digital TVs, DVD
and Blu-ray Disc players, and over 80 mobile handsets.
The company’s DivX web
properties also attract over 12 million unique monthly visitors.