Google buying Clifton Park company

google logoGoogle announced today that it's buying a Clifton Park company for $106.5 million.

On2 Technologies develops video compression technology. The acquisition is expected to help YouTube better deliver high-def video (remember, Google owns YouTube). It could help Google save money by saving on bandwidth (better compression = smaller files). And better compression would probably make it easier to send video to mobile devices like the iPhone (On2 bought a company that developed video software for mobile devices two year ago).

On2 was already working with a handful of high-profile clients, including Adobe, Amazon, Netflix, Skype and Brightcove.

While this is surely a big deal for On2, the cost of the acquisition is barely a drop in the bucket for Google. The market cap for the owner of the world the search giant was more than $142 billion as of this morning.

[Google press release] [Bloomberg] [PaidContent]

Comments

Oh wow, $106M, congrats On2. Damn you Google, they are a few blocks from us, so close :) According to one of our sysadmins, who used to work there, that company went through some rough times, with stocks down from 40 to 6 cents at some point. Good for them.

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