DivX Announces Changes to Engineering Organization
December 03 2008 - 4:05PM
PR Newswire (US)
SAN DIEGO, Dec. 3 /PRNewswire-FirstCall/ -- DivX, Inc.
(NASDAQ:DIVX), a digital media company, today announced that Markus
Moenig, Senior Vice President and Chief Technology Officer, has
resigned effective December 1, 2008, in order to return overseas
and explore new entrepreneurial opportunities. Following DivX's
acquisition of MainConcept, Mr. Moenig's primary focus has been to
integrate the H.264 digital video technology into the core DivX
product line, which has culminated in the soon to be released DivX
7. Jim Reesman, Vice President of Engineering, will lead DivX's
global engineering organization. (Logo:
http://www.newscom.com/cgi-bin/prnh/20081124/LA48153LOGO) "Since
DivX acquired MainConcept in November 2007, Markus has played a key
role in the successful integration of MainConcept as a subsidiary
of DivX," said Kevin Hell, Chief Executive Officer of DivX, Inc.
"One product of this effort is the future release of DivX 7, which
will feature MainConcept's award-winning H.264 solution. With the
integration of these technologies complete, we thank Markus for his
efforts and wish him well with his future plans." Mr. Hell added,
"Jim has been leading our product development team for some time
now, so we do not plan to replace Markus. We are highly confident
that Jim and our deep pool of talented engineering resources have
the proven ability to continue to execute on our product and
technology goals." 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(R)
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; risks regarding DivX's dependence on its licensees and
partners; risks related to the effect of intellectual property
rights claims; and other factors discussed in the "Risk Factors"
section of DivX's most recent reports filed with the Securities and
Exchange Commission. 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.
http://www.newscom.com/cgi-bin/prnh/20081124/LA48153LOGO
http://photoarchive.ap.org/ DATASOURCE: DivX, Inc. CONTACT:
investor relations, Karen Fisher, +1-858-882-6415, , or media, Tom
Huntington, +1-858-882-0672, , both of DivX, Inc. Web site:
http://www.divx.com/
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