Google Acquires On2 for $106.5 Million

CheeseMan42 - August 5, 2009 04:16PM in Software

Google announced the purchase of On2 Technologies today in exchange for $106.5 million in stock. On2 produces video compression software which can export to various formats such as Flash. The video compression software will likely be used in conjunction with YouTube to provide an enhanced viewing experience. On2 also has its' hands in embedded video codecs used in devices such as mobile phones. This is also a great deal for anyone who owned a piece of On2, as the Google deal provides a 57% premium over its previous stock price.