instead of selling it or spinning it off. Prior to the decision to close the site, disagreements within DivX, Inc. on what to do with site appears to have led to the resignations of senior personnel, including co-founders Jordan Greenhall and Darrius Thompson. Acquisitions and investments In August 2007, DivX, Inc. announced that it had acquired the assets of Veatros, LLC, a Lawrence, Kansas-based company. Veatros developed video processing technology at the University of Kansas' Information and Telecommunication Technology Center. The technology can be used for video search and discovery. The deal was for $2 million in cash plus an additional $2.5 million upon completion of certain technology-related milestones. In November 2007, DivX, Inc. purchased Aachen, Germany based MainConcept AG. DivX, Inc. paid $22 million for the company, and will pay up to additional $6 million upon the completion of certain milestones in 2008. MainConcept developed and distributes one of the most popular codecs using the H.264 standard. Awards DivX, Inc. was selected as a Top 100 Private Company Award Winner 2006 by OnHollywood. DivX, Inc. was ranked No. 1 in Entrepreneur Magazine's Hot 500 list for 2007. DivX, Inc. was awarded Deloitte’s elite Technology Fast 500 award 2007-2009. References External links DivX, Inc. web site DivX, Inc. SEC filings Background on DivX, Inc. IPO from Seeking Alpha Venture Capitalist's Take on DivX, Inc.'s IPO Software companies established in 1999 Companies based in San Diego Software companies based in California Defunct software companies of the United States 1999 establishments in California