Thursday, August 23, 2007

DivX Buys Veatros

San Diego-based DivX, a provider of video encoding and decoding technology, said Wednesday afternoon that it has acquired the assets of Veatros LLC, a developer of technology for real-time digital video processing. Financial terms of the acquisition were not disclosed. DivX said that the technology will be used by DivX for producing enhanced video search and discovery services. Veatros is a spinout of the Information and Telecommunication Technology Center at the University of Kansas, and was backed by T2 Venture Capital, the venture capital affiliate of Larta Institute. T2 Venture Capital's Victor Hwang was Chief Strategy Officer of Veatros until the acquisition.