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DIVX is a codec. Codecs (coder / decoder) are used to reduce the amount of data needed to store or stream a video signal. They can be hardware based, i.e. a physical unit that does the conversion or they can be software based, as used in PCs for example. In all cases, they compress the signal for delivery or storage and then uncompress it to put on to a display. DIVX is the trade name of one such codec. A video signal that has been compressed using DIVX needs a DIVX codec to convert the signal back into a viewable format.
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DivX itself is a video codec and it uses AAC as audio codec.

There are a number of DivX video converter softwares available and the ratings vary depending on the file types. Some of the good ones are Free DivX Converter and DivX Plus v9.1.1.

A video converter can do that.