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06.02.2010 - Sonic to Acquire DivX

View SonicSolutions related news. Novato and San Diego, CA (June 2, 2010) - Sonic Solutions® (NASDAQ:SNIC) and DivX, Inc. (NASDAQ: DIVX) today jointly announced that they have signed a definitive merger agreement for Sonic Solutions to acquire DivX, Inc., a leading digital media company, based in San Diego, California. Under the terms of the agreement, approved by the boards of directors of both companies, Sonic would acquire all the outstanding shares of DivX and merge DivX operations into those of Sonic. DivX stockholders would receive a combination of cash and stock equal to $3.75 in cash and 0.514 shares of Sonic common stock for each share of DivX they hold. The acquisition, which is expected to close in September 2010, is subject to approval of the shareholders of both companies as well as applicable regulatory approvals and customary closing conditions.

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NID: 34103 / Submitted by: TACKtech Team
Categories: Press Release
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