The company behind Roxio and CinemaNow says it plans to buy video codec company DivX.
Sonic Solutions says it will pay $9.38 per share for DivX, in a deal that would be worth around $300 million. It is still subject to shareholder approval, but is expected to be completed by September.
DivX distributes and licenses digital video technologies that allow content playback on more than 300 million devices, including PCs, TVs, and mobile devices. Sonic executives say owning DivX will help in their quest to deliver video content to a larger array of gadgets.
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