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Google will acquire Adobe Flash codecs
Posted on August 5, 2009 in Technology
Google confirmed today that it plans to acquire digital video compression company On2 Technologies in an all-stock contract, valued at $106.5m.
Mountain View said that On2 shareholders will be given 60 cents worth of Google class A common shares for each outstanding share they have in the company.
Based in Clifton Park, New Jersey, On2 employs around 60 individuals. It began as the Duck Corporation in 1992.
On2′s VP6 codec is licensed by Adobe, for its Flash Player and Flash Lite 3 for mobile phones. Other foremost customers consist of AOL, Freescale, Nokia and Sun Microsystems.
“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 Google VP product management Sundar Pichai.
“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.”
Google, which owns video sharing website YouTube, said the planned acquisition was expected to close in the last quarter of this year.
This entry was posted on Wednesday, August 5th, 2009 at 10:13 pm and is filed under Technology.
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