DivX Files For IPO

San Diego-based DivX Networks has filed for an IPO, saying that it is looking to raise up to $135M in a public offering on the Nasdaq. DivX Networks reported in a filing with the SEC that it earned $2.2M on $33.0M in revenue for the year ending 2005. DivX licenses its own video compression/decompression codec used to decode video, which is licensed to manufacturers of consumer electronics and used on the Internet. The offering is being underwritten by JP Morgan, Banc of America Securities, Cowen & Company, Canaccord Adams, and Montgomery & Co. DivX is backed by Zone Ventures, WI Harper, and Insight Venture Partners. More information »