September 2, 2009 (FinancialWire) — Digital media firm DivX, Inc. (NASDAQ: DIVX) (Current Market Cap: $165.00 Mil.) has acquired AnySource Media LLC, the creator of an internet television streaming platform that allows users to directly connect their TV to a range of content and services on the internet.

The company paid $7.5 million in cash at closing, with additional cash payments of up to $7.5 million payable over three years upon the achievement of certain technical, and revenue and distribution milestones.

Kevin Hell, the CEO of DivX, said that the AnySource streaming platform combined with his company’s device certification program and its relationships with both consumer electronics companies and Hollywood studios, “puts us in an enviable position in this rapidly emerging market.”

Malvern, Pennsylvania-based AnySource Media’s software can support e-commerce transactions and enable navigation and playback of hundreds of virtual on-demand channels directly via HDTVs, Blu-ray disc players and other consumer electronics devices such as mobile phones.

The company’s AnySource Internet Video Navigator enables online video on a living room TV and access to internet-based videos, music, photos, games and data content through a standard remote control.

DivX said the acquisition will increase its headcount and integration costs by around $1.3 million, or $0.02 per diluted share, through the end of 2009.

San Diego-based DivX creates, distributes and licenses digital video technologies.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.