ON2 Gets Funding; Wins Big China Contract


On2 Technologies, the video compression technology company, has signed licensing agreements with Beijing E-World Technology, a consortium of several of China’s largest consumer electronic makers and now an investor in the NYC-based company.

E-World will buy 1.8 million shares of On2’s stock and 700,000 warrants at 67.5 cents, or a 10 percent discount of 75 cents, which was On2’s price as of Friday. This works out to about $1.7 million for 2.5 percent to 3 percent of On2.

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