NeuLion announced that it has completed its acquisition of DivX Corporation for roughly $62.5 million.
For more information visit: www.neulion.com
Unedited press release follows:
NeuLion Completes Acquisition of DivX
Transaction Creates Online Video Powerhouse and Globalizes NeuLion’s Reach
PLAINVIEW, NY–(January 30, 2015) – NeuLion, Inc. (TSX: NLN), the leading enabler and provider of live and on-demand content to Internet-connected devices, today announced that it has completed the acquisition of DivX Corporation, a leading provider of next-generation digital video solutions. The total transaction value is approximately $62.5 million.
Upon closing, Nancy Li relinquished her role as NeuLion’s Chief Executive Officer and became the Executive Vice Chairman of the NeuLion board of directors, in which role she will drive the technology vision for the company, and Kanaan Jemili, DivX’s former chief executive officer, assumed the role of Chief Executive Officer of the combined company. Dr. Jemili commented: “With the addition of DivX’s entertainment and consumer electronics customers, advanced 4K video enabling technology products and expansive geographic reach, NeuLion and DivX together will be a leader from both a technology platform and consumer experience perspective as live and on-demand secured streaming of content continues to move to digital platforms. The combined company’s expanded global footprint perfectly positions us to benefit from the accelerating adoption of 4K video and Over-The-Top services. DivX and NeuLion have worked together in partnership to bring 4K video solutions to customers, and now that we’ve joined forces, we look forward to driving adoption of 4K and building shareholder value together.”
About NeuLion
NeuLion, Inc. (TSX: NLN) offers the true end-to-end solution for delivering live and on-demand content to Internet-enabled devices. NeuLion enables content owners and distributors, cable operators and telecommunications companies to capitalize on the massive consumer demand for viewing video content on PCs, smartphones, iPads and other similar devices. NeuLion’s customers include major entertainment, sports, global content and news companies. NeuLion is based in Plainview, NY. For more information about NeuLion, visit www.neulion.com.