Google Acquires On2 Technologies
by John Paczkowski
Posted on August 5, 2009 at 6:31 AM PT
Google’s acquisitive appetite has returned. This morning the company said it will acquire On2 Technologies, which develops video compression technology, for $106.5 million.
A stock-for-stock transaction, the deal will see each share of On2 exchanged for 60 cents worth of Google class A common stock. On2 shares closed at 38 cents Tuesday, so the company and its investors are presumably quite pleased with the deal.
As is Google (GOOG), which plans to use On2’s (ONT) advanced compression technologies to enhance YouTube and perhaps even make its own video infrastructure play.
“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 Sundar Pichai, vice president, Product Management, Google. “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.”
Comments
The sale of ONT to Google is an absolute FARCE – it’s a disgrace to the company, the employees, the shareholders! Do not approve this abomination of a “sale” – VOTE NO – VOTE AGAINST THE SALE OF ONT TO GOOGLE IF YOU ARE A SHAREHOLDER. JOIN THE uprising that will no longer allow this corporation to steal our shares and dump them into GOOGLE – JOIN THE RESISTANCE – JOIN THE CLASS ACTION SUIT – FIGHT THE FINANCIAL MACHINE HERE – http://www.zlk.com/ont1.html?g.....agodWAVtYA
Posted by Damon Zwicker at August 5th, 2009 at 5:50 pmIs this to help youtube become more efficient? ONT has been dead for many years, I wonder why Google needs it now…
Posted by David Robins at August 6th, 2009 at 12:54 am