Google nibbles a tiny Startup
In another bid to position itself as a larger-than-a-search firm image, Google announced its decision to buy a small but highly innovative video technology company ‘On2 Technologies Inc’ on Wednesday.
On2 Technologies Inc is an almost 50 employee company in New York’s Capitol Region that has mastered the technique of video compression and its distribution in small files.
On the occasion of acquisition, Matthew Frost, the company's interim chief executive and a longtime employee, remarked, "It's a pretty heady experience, and "For a small technology company, being acquired by Google is one of a small number of dreams you can have.”
Google would be paying around $106.5 million for acquisition of On2 Technologies Inc.
The work underlies well-known technologies such as Skype, Adobe Flash Player and video chat services.