A system, method, and computer readable medium adapted to provide software and hardware partitioning for multi-standard video compression and decompression comprises a master-slave bus, a peer-to-peer bus, and an inter-processor communications bus, a prediction engine, a filter engine, and a transform engine, and a video encode control processor, and a video decode control processor adapted to utilize the master-slave bus to interact with the video hardware engines for control flow processing, the peer-to-peer bus for data flow processing, and the inter-processor communications bus for inter-processor communications, and a system data bus adapted to permit data exchange between system resources, the busses, the engines, and the processors.