DivX Acquires Streaming Video Tech Firm AnySource For $7.5 Million, Plus Earnout
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Digital video tech firm DivX has acquired IPTV-enabler AnySource Media in a deal that’s potentially worth $15 million. DivX (NSDQ: DIVX) will pay $7.5 million in cash up front, with additional cash payments totaling $7.5 million over the next three years, if the company hits specific technical, revenue and distribution goals.
SEE ALSO: DivX, Film Fresh Get Studios’ Blessings For Download-to-Own Movie Service
Philadelphia-based AnySource’s streaming video software runs on the chips in the new web-enabled HDTVs from brands like Vizio and LG; it also enables e-commerce transactions to be conducted right within the device itself.
In a statement, DivX EVP and CFO Dan Halvorson said AnySource’s team and technology would advance the company’s development schedule “by at least one year.” Prior to the acquisition, AnySource raised $3.2 million in a first round from NextStage Capital, Murex Investments and private investors (via NewTeeVee). Release.
Posted In: E-Commerce, Media & Publishing, TV, IPTV, Money, M&A & Venture Capital, Mergers & Acquisitions, divx
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