Google to Acquire On2 Technologies for $106.5 million
On2 Technologies, Inc. and Google Inc.jointly announced today that they have entered into a definitive agreement under which Google will acquire On2, a leading developer of video compression technology. Under the terms of the agreement, each outstanding share of On2 common stock will be converted into $0.60 worth of Google class A common stock in a stock-for-stock transaction. The transaction is valued at approximately $106.5 million.
On2 creates advanced video compression technologies that power the video in today’s leading desktop and mobile applications and devices; and its customers include Adobe, Skype, Nokia, Infineon, Sun Microsystems, Mediatek, Sony, Brightcove, and Move Networks.
