Interesting, sounds like they really leaped up from just making video codecs then.
Jérôme Larrieu was one of the founders and head of R&D at
4X Technologies, a middleware and game development company. Delattre also worked in R&D at the company. 4X already worked on video codecs for Nintendo systems, namely 4X Movie for GBA, but they also developed game engines (X3D, Phoenix3D, Phoenix VR) and various other tools - so it seems their investors at MobiClip were responsible for the focus on codecs, and now that they're part of Nintendo, they've gone back to the roots.