Blog Post

On2 Finally Gets On With It: Shareholder Approve Sale To Google

It’s been a long time coming, and now we know: video codec company On2’s shareholders have finally approved its sale to Google (NSDQ: GOOG), for a revised offer of $133 million. The majority of shareholders have approved the deal in a meeting today, after two failed previous attempts to get the deal done at a lower Google offer of about $106.5 million. The two companies now anticipate closing the transaction on or about Feb 19 this week. This will mean Google/YouTube’s video delivery costs could be coming down significantly in the next year or so. Background on the final raised offer from Google, and its rationale, in our previous story.