Today, video is an important part of many people's everyday activities on the Internet and a big part of many Google products.
Because we spend a lot of time working to make the overall web experience better for users, we think that video compression technology should be a part of the web platform. To that end, we're happy to announce today that we've signed a deal to acquire On2 Technologies, a leading creator of high-quality video compression technology.
The deal is still subject to approval by On2 Technologies' stockholders and review by relevant regulatory authorities, including the SEC, but we expect it to close in Q4.
Although we're not in a position to discuss specific product plans until after the deal closes, we are committed to innovation in video quality on the web, and we believe that On2 Technologies' team and technology will help us further that goal.
We'll update everybody when we're able to share more information. In the meantime, nothing will change for On2 Technologies' current and prospective customer
Official Google Blog: Innovation in video on the web
