DivX set to go public next week

Filed under: — By Aviran Mordo @ 3:32 am

DivX, the video-compression company that went from public enemy No. 1 in Hollywood to a trusted partner, will hold a public offering next week.

The San Diego-based company plans to sell 9.1 million shares for $12 to $14 a share.

Revenue for the first six months of 2006 came to $27.2 million, while net income was $5.9 million. In 2005 for the full year, DivX pulled in $29.3 million in revenue and $2.3 million in net income.

The DivX video-codec video-compression technology offers DVD quality at 10 times the compression of traditional MPEG-2 files, enabling a full-length film to fit on one CD or eight films to fit on one DVD. More than 50 million DivX-certified devices have been released.

Source: News.com


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