Tuesday, August 4, 2009

Google to Acquire On2 for Video Compression

Google will acquire On2 Technologies, a leading developer of video compression technology, in a stock-for-stock transaction valued at approximately $106.5 million.
On2's video compression codecs are used in a range of desktop and mobile applications and devices. On2 customers include Adobe, Skype, Nokia, Infineon, Sun Microsystems, Mediatek, Sony, Brightcove, and Move Networks. The company is based in Clifton Park, New York.

"Today video is an essential part of the web experience, and we believe high-quality video compression technology should be a part of the web platform," said Sundar Pichai, Vice President, Product Management, Google. "We are committed to innovation in video quality on the web, and we believe that On2's team and technology will help us further that goal."http://www.on2.com


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