Sonic Solutions Acquires DivX

Novato, California-based Sonic Solutions said this morning that it is acquiring San Diego-based DivX, a maker of video encoding and decoding software. Sonic said it will pay $3.75 in cash plus 0.514 shares of its common stock for each share of DivX, making the deal worth approximately $323M. DivX develops coding and encoding software it licenses to consumer electronics manufacturers and software developers.