paidContent - DivX Acquires Streaming Video Tech Firm AnySource For $7.5 Million, Plus Earnout
This story was written by Tameka Kee.
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.
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.
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By Tameka Kee