DivX Appoints Markus Moenig as Chief Technology Officer
February 27 2008 - 5:00PM
Business Wire
DivX, Inc., a digital media company (NASDAQ: DIVX), today announced
the appointment of Markus Moenig as Senior Vice President and Chief
Technology Officer. Mr. Moenig will lead global engineering
operations, where he will be responsible for the development of
technologies designed to enable consumers to enjoy high-quality
digital video across any device or platform. Chris Russell, who has
served as DivX CTO since 2006, will continue to assist the Company
in a consulting role focused on building relationships with premium
content providers. Mr. Moenig, who brings over 20 years of
experience in the consumer and professional video markets to his
new role, joined DivX in November 2007 with the Company�s
acquisition of MainConcept. Mr. Moenig founded MainConcept in 1993
at the age of 23 and grew the company into one of the leading
worldwide suppliers of video technology with an award-winning
implementation of H.264, the next-generation video codec widely
adopted across the media industry. In his new role, Mr. Moenig will
run the global DivX engineering organization and oversee the
development of the DivX� technology platform, strategy and system
architecture. �Markus brings a broad and deep understanding of
cutting-edge video technology coupled with a strong focus on
organizational efficiency and execution, and we�re very pleased
that he will be joining our executive team in San Diego,� said
Kevin Hell, CEO of DivX, Inc. �I�d like to thank Chris Russell for
his years of valuable service building a world-class engineering
organization that has established DivX as a global standard for
high-quality digital video on any device or platform.� �DivX has
led the way to creating a seamless and powerful digital video
experience for consumers with its respected products,� said Markus
Moenig, Senior Vice President and CTO of DivX, Inc. �I�m very
pleased to move into the role of CTO and look forward to working
closely with the excellent DivX engineering team to continue to
develop and deploy innovative next-generation video technologies
that further bridge the gap between the PC, the living room and
versatile mobile environments. I believe we are well-positioned to
build on the vast technology assets we have in place.� For more
information about DivX, visit www.divx.com. About DivX, Inc. DivX,
Inc. is a digital media company that enables consumers to enjoy a
high-quality video experience across any kind of device. DivX
creates, distributes and licenses digital video technologies that
span the �three screens� comprising today�s consumer media
environment�the PC, the television and mobile devices. Over 100
million DivX Certified devices have shipped into the market from
leading consumer electronics manufacturers. DivX also offers
content providers and publishers a complete solution for the
distribution of secure, high-quality digital video content. Driven
by a globally recognized brand and a passionate community of
hundreds of millions of consumers, DivX is simplifying the video
experience to enable the digital home. Forward-Looking Statements
Statements in this press release that are not strictly historical
in nature constitute "forward-looking statements." Such statements
include, but are not limited to, statements regarding DivX's
visibility within the investment community. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause DivX's actual results to be materially
different from historical results or from any results expressed or
implied by such forward-looking statements. These factors include,
but are not limited to: the risk that customer use of DivX
technology may not grow as anticipated; the risk that anticipated
market opportunities may not materialize at expected levels, or at
all; the risk that the Company�s activities may not result in the
growth of profitable revenue; risks and uncertainties related to
the maintenance and strength of the DivX brand; risks associated
with DivX's ability to penetrate existing and new markets; risks
regarding the effects of competition; DivX's dependence on its
licensees and partners; the effect of intellectual property rights
claims; and other factors discussed in the "Risk Factors" section
of DivX's quarterly report on Form 10-Q filed with the SEC on
November 14, 2007. All forward-looking statements are qualified in
their entirety by this cautionary statement. DivX is providing this
information as of the date of this release and does not undertake
any obligation to update any forward-looking statements contained
in this release as a result of new information, future events or
otherwise.
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