iVI Lite will convert and import video files into iTunes or iMovie with a simple drag and drop. The app will format the video for all Apple platforms automatically including Mac, AppleTV, iPad, iPhone and iPod. iVI supports video (including 1080p and 720p), surround sound, multiple audio tracks, and subtitles too.
Converted files can be imported directly into iTunes or saved for further video editing. The app supports the following formats AVI, MKV, MTS, M2TS, FLV, AVCHD, MOD, TOD, MTS, M2TS, 3GP, MP4, MPG, and most videocam formats.
The Lite edition of iVI is free.