Google Snaps Up On2 Technologies For Video

The Google Inc. has just announced that it will acquired On2 Technologies, a developer of video compression technology.

Google Snaps Up On2 Technologies

The Google Inc. has just announced that it will acquired On2 Technologies, a developer of video compression technology. The Google will drop $106.5 million for the company, whose services include compression and encoding of video, and embedding into chips and other devices. On2’s past clients include Adobe Inc., Skype, Nokia, Sun Microsystems, Philips, Sony and many others. Neither company is talking about what will come of this arrangement, so it’s anybody’s guess. But, maybe some encoding schemes for YouTube, allowing Google to operate the site for less money. [via Google]

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