Rochester,NY 8/12/2009 10:59:07 PM
Google Inc. GOOG-Google to Take Over On2
Google Inc
On2 Technologies, Inc. and Google Inc. have mutually declared that they have entered into a joint agreement under which Google will take over On2, a developer of video compression technology.
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Under the terms of the agreement, released in an August 5 release, each outstanding share of On2 common stock will be changed into $0.60 worth of Google class A common stock in a stock-for-stock transaction. The transaction is estimated at approximately $106.5 million.
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