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August 5th, 2009

Google buys video compression outfit On2 Technologies

Posted by Larry Dignan @ 5:38 am

Categories: General, Google, Web Technology

Tags:

Google on Wednesday said it will acquire On2 Technologies, a video compression company, for $106.5 million.

Under the terms of the stock swap, each share of On2 will be exchanged for $0.60 worth of Google common stock.

Google just made a few penny stock investors very happy. On2 shares closed at 38 cents a share on Tuesday.

In a statement, Google said that it will take On2’s technology and make it part of the web platform. On2’s interim CEO Matt Frost said he was thrilled with the deal, which is expected to close in the fourth quarter.

Larry DignanLarry Dignan is Editor in Chief of ZDNet and Editorial Director of ZDNet sister site TechRepublic. See his full profile and disclosure of his industry affiliations.

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  • Talkback
  • Most Recent of 4 Talkback(s)
RE: Google buys video compression outfit On2 Technologies
I'm happy to see "The Duck Corp" take significant loss on their shares.The big dummies should have received an offer of at least $3 a share. The Genovese families are rich enough. Will they now get rich off of the Google stock they get in return?... (Read the rest)
Posted by: JerryTate Posted on: 08/16/09 You are currently: a Guest | | Terms of Use
Good for Googling  Rude Union | 08/05/09
RE: Google buys video compression outfit On2 Technologies  kkdingo | 08/05/09
RE: Google buys video compression outfit On2 Technologies  Jesse Kliza | 08/05/09
RE: Google buys video compression outfit On2 Technologies  JerryTate | 08/16/09

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