Google Takes Over On2 Technologies

Aug 07, 2009

Google, Inc., has reached an agreement to acquire video compression developer On2 Technologies, Inc. Under the terms of the agreement, each outstanding share of On2 common stock will be converted into 60 cents worth of Google class A common stock in a transaction worth roughly $106.5 million. The price of 60 cents per share represents a 57% premium over the closing price of On2's stock on the last day before the announcement and a 62% premium over the average closing price for the past 6 months.