Shares of Video Compression Firm DivX Rise 22% in $145.6 Million IPO

Authored by Mark Hefflinger on September 22, 2006 - 11:20am.

San Diego - DivX, a developer of video compression technology, saw its shares rise as much as 22% in their initial public offering on Friday, which raised $145.6 million and delivered an initial market capitalization of about $535 million. DivX offered a total of 9.1 million shares at a price of $16 per share, which rose 22% to $19.50 before falling to $18.49 near the end of the day's trading. San Diego-based DivX's technology is used as an alternative to QuickTime or Windows Media for encoding video content for digital distribution; it has also been featured on over 46 million DVD players and other electronics devices shipped worldwide.
http://biz.yahoo.com/bw/060922/20060922005121.html?.v=1
http://tinyurl.com/gp374 (Reuters)
http://www.divx.com