Published:
DivX Announces Changes to Engineering Organization
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.
"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.
SOURCE DivX, Inc.
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Copyright © 2009, NewsBlaze,
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