DivX Files Breach of Contract Suit Against Telechips
SAN DIEGO--(Business Wire / Korea Newswire)--DivX, LLC, a pioneer in digital video technology, has filed a breach of contract suit against Telechips, Inc. DivX has been licensing technology to Telechips since 2016. DivX alleges that a recent, independent audit uncovered numerous breaches of the parties’ agreements. For these breaches, DivX is seeking substantial damages and indemnities in the nine-figure range.
“Litigation is not our first choice, however, when a licensee does not honor its contractual obligations, it can over time have a significant, negative impact on our entire technology licensing ecosystem,” commented Noel Egnatios, DivX's CEO. “We are committed to defending our ecosystem and preserving the value of our DivX® brand and technology licensing program for our licensed partners.”
Since 2000, DivX has established itself as a global leader in the research and development of innovative digital video technology and will continue to license its broad portfolio to companies around the world.
About DivX, LLC
DivX, LLC develops innovative technology to provide extraordinary digital entertainment experiences on any device. Since 2000, DivX has been setting the standard for high-quality digital video by creating pioneering technologies for consumers, device manufactures and streaming services around the world. DivX licenses its technology to enable stunning video playback, and major consumer electronics brands have shipped over 1.7 billion DivX-enabled devices worldwide. The DivX consumer software has over 1 billion worldwide downloads and provides consumers the tools to play, convert and cast their content. DivX is headquartered in San Diego, California. For more information, please visit www.divx.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240916926818/en/
Website: https://www.divx.com/
