Google announced it will acquire video compression software and solutions developer On2 Technologies, a stock-for-stock transaction valued at $106.5 million. The deal is expected to close in the fourth quarter. On2 creates compression technologies that power desktop and mobile video applications--the firm's customers include Nokia, Adobe, Sun Microsystems, Skype, Sony and Brightcove.
Google's existing video efforts are led by user-generated content sharing website YouTube, which the web services giant acquired for $1.65 billion in November 2006.
For more on the Google/On2 deal:
- read this release [1] [1]
Related articles:
TI, On2 [2] partner for mobile video solutions
On2 [3] acquires Hantro Products for $6.8 million
Links:
[1] http://www.fiercewireless.com/press-releases/google-acquire-on2-technologies
[2] http://www.fiercemobilecontent.com/story/ti-on2-partner-for-mobile-video-solutions/2007-11-26?utm_medium=nl&utm_source=link
[3] http://www.fiercemobilecontent.com/story/on2-acquires-hantro-products-for-6.8m/2007-05-22