Tuesday, April 1, 2014

Rovi Sells DivX, MainConcept

Santa Clara-based Rovi, the provider of entertainment guide and recommendations technology, said Monday that it has sold its DivX and MainConcept businesses. Rovi said it would sell DivX and MainConcept to Parallax Capital Partners and StepStone Group, in a deal worth $75M in cash plus milestone payments. The move is part of the move by Rovi into the entertainment discovery area, which came as a result of its acuqisition of Veveo in February. Rovi had said it would sell both DivX and MainConcept as part of that deal.