On2 acquires Hantro Products for $6.8M

Video compression software and solutions developer On2 Technologies announced its $6.8 million acquisition of mobile video technology provider Hantro Products. Per terms of the deal, On2 will acquire Hantro for a combination of cash and shares of On2 common stock--after closing, expected before mid-August 2007, Hantro stockholders will own approximately 12 percent of the combined company on a pro forma basis, and Hantro will become a wholly-owned On2 subsidiary. According to On2, the agreement will accelerate the deployment of its technology on mobile device semiconductor chipsets--Hantro boasts optimized video compression implementations on more than 200 existing million mobile devices via handset makers including Nokia and Sanyo.

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