On2 merger with Google approved

google logoOn2, the Clifton Park video compression company, announced late this afternoon that its shareholders have approved its merger with Google. The company says it expects to close the deal on Friday.

The original deal had been held up because some shareholders had protested the price Google was paying. Google then upped its offer to $133 million.

So, why is Google buying a company that makes software for encoding video? You may have heard of a site called YouTube.

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