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On2 Buys Finnish Mobile Video Tech Firm Hantro For $58.4 Million

Developer of video compression technology On2 is buying Finland-based Hantro Products, a provider of video software for mobile devices, for about $58.4 million in cash and stock. On2 will pay about $6.8 million in cash and rest in shares and before mid-August. The acquisition would accelerate the deployment of On2’s technology on semiconductor chipsets that power mobile and embedded devices, the company said. Hantro expects revenues of about $8.1 million to $12.2 million for its fiscal year 2007. Hantro provides video compression implementations for mobile, digital consumer-electronics and IPTV devices More details in the release.