SAN DIEGO -- DivX, LLC, a pioneer in digital video technology, announced that Hisense, a global leader in consumer electronics and home appliances, signed an intellectual property (IP) license agreement. The agreement resolves ongoing litigation between the two companies and grants Hisense access to DivX’s global video technology patent portfolio. By adding Hisense to its growing list of licensees, DivX has now licensed more than 75% of the global smart TV market.

“We are excited to conclude an agreement with Hisense, and welcome them to our family of licensees,” commented Noel Egnatios, DivX’s CEO. “We believe that this agreement both demonstrates Hisense’s respect for intellectual property rights owners and further validates the immense value in DivX’s patent portfolio.”

Since 2000, DivX has established itself as a global leader in the research and development of innovative digital video technology. DivX continues to license its broad IP portfolio to companies in the consumer electronics and streaming video industries around the world.