posted by Thom Holwerda on Wed 5th Aug 2009 14:02 UTC, submitted by John Mills
Icon"Google confirmed today that it plans to buy digital video compression outfit On2 Technologies in an all-stock agreement, valued at $106.5m. Mountain View said On2 shareholders will be handed 60 cents worth of Google class A common shares for each outstanding share they hold in the company. Clifton Park, New Jersey-based On2 employs around 60 staff. It started life as the Duck Corporation in 1992. On2's VP6 codec is licensed by Adobe, for its Flash Player and Flash Lite 3 for mobile phones. Other major customers include AOL, Freescale, Nokia and Sun Microsystems."
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