After news that DivX Inc’s video compression technology would be fully supported by the Playstation 3, shares rose 2.4 percent, rising 44 cents to $19.07 this morning.

Word has also been made that the Xbox 360 will also be licensing the DivX technology as well, but no official statements have been released. Analysts highly suspect 2008 will be the year of DivX on the Xbox 360.

The news has been an incredible breakthrough for DivX Inc. as they go head-to-head with DVD, HD-DVD and Blu-Ray technology on the next-gen systems. The battle of the video compression wars are on!