Sonic Solutions Buys DivX For $300M

Law360, New York (June 2, 2010, 2:27 PM EDT) -- Sonic Solutions is planning to purchase the computer video company DivX Inc. for roughly $300 million in an effort to expand its digital media holdings.

The companies jointly announced the definitive merger agreement Wednesday, saying Sonic would acquire all of DivX's outstanding shares and merge DivX's operations into its own.

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, according to the companies.

The acquisition, which...
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