Video - Wednesday, August 5, 2009
Google Pays $106M For On2's Video Compression
Google went bottom-feeding today, buying video compression's On2 Technologies, a publicly -traded firm that once traded with a market cap above $1B and which Google bought today for just $106M.
On2 Technologies (AMEX: ONT), formerly known as The Duck Corporation, trades on the American Stock Exchange. It is headquartered in Clifton Park, NY. Its video codec technology powers Macromedia Flash among other products.
Details on what Google will do with On2 are thin but it would appear that Google will use On2 to speed up YouTube. Why it had to buy On2 rather than just license is also not clear but perhaps when they do the math they see that they would owe north of $100M to license codes. Just speculation.
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