Alphabet acquired On2 Technologies, a transaction announced in August 2009.
On2 Technologies operates in Video / Web platform (later VP8 & WebM), is based in United States. Google announced it had signed a deal to acquire On2 Technologies, a leading creator of high-quality video compression technology, arguing that video compression should be part of the web platform. Google said the deal remained subject to On2 shareholder and regulatory approval and was expected to close in Q4. The acquisition later yielded the VP8 codec and the WebM project.
Make high-quality, open video compression technology part of the web platform.
we think that video compression technology should be a part of the web platform.Jeremy Doig, Engineering Director – Video, and Mike Jazayeri, Group Product Manager, Google
Advisory firms were not disclosed for this transaction.