Google has announced that it is going to acquire On2 and said that the Video Compression technology should be a part of the web platform. “To that end, we are happy to announce the deal about acquiring On2 Technologies, which is a leading creator of high-quality video compression technology”. Moreover, the deal between Google and On2 is to be approved by On2 Technologies and stockholders by relevant regulatory authorities, including the SEC. Some of the sources say that the deal amount comes around $106.5M.
Click to know about another purchase of Google
When On2 says about the deal, “Our our proprietary On2 Video compression technology is installed on over two billion computer desktops and devices worldwide. On2 Video is the format of choice of media industry leading solutions including Adobe® Flash® Player, Skype™ video conferencing, Sun JavaFX, and Move Networks’ ground-breaking high-quality Internet television service.”
[ More ]