Google closes On2 acquisition for $124.6 million
20 February 2010
Google has finished its acquisition of video-compression-technology vendor On2 Technologies, boosting its efforts in online video.
The deal closed
after gaining approval from On2 shareholders and was valued at $124.6 million,
Google said in a brief statement on Friday.
The figure was
about $18 million more than the value stated when the companies announced
the acquisition last year.
On2 provides
video compression technologies for mobile video, embedded devices,
Adobe Flash Player and VoIP (voice over Internet Protocol). Its customers
include Skype, Nokia, Sony and Adobe, according to its Web site.
Google last year
said On2 would provide it with video compression technology and that
it hoped the acquisition would help further innovation in online video quality.
