Google Acquired On2 For $124.6M

Monday, February 22nd, 2010 | Technology with No Comments »

Google and On2The economic crunch will not stop technology giants like Google from its buying spree.  Google has recently bought On2 Technologies, a video-compression-technology vendor, to boost its online video.

On2 shareholders approved the acquisition valued at $124.6 million which is $18 million more than the original value stated during the 2009 announcement.

On2 is the main provider of video compression technologies for mobile video, embedded devices, Adobe Flash Player and VoIP (voice over Internet Protocol). Skype, Nokia, Sony and Adobe, are among its major customers.

Google hopes that acquiring On2 would provide more innovation in its online video quality.

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Google Acquired On2 For $124.6M |