Google Expands Video Empire with On2 Acquisition

Today On2 Technologies, Inc. reported they have agreed to be acquired by Google. On2 has been developing a technology for high-quality video compression, meaning that Google obviously has plans to integrate this tech into YouTube and expand the Google video empire.

Some people are saying that Google will use this technology across the Web to gain broader control over internet video. Ummm, they already run the single largest video share site on Earth, so I don’t think this will be their coup de grace. It will, however, possibly help Google and YouTube deliver HD video faster and easier, making all our wheeled-office-chair-potato fantasies come true.

It turned out to be a good thing for On2 stockholders too. Their stock was directly converted into slightly devalued Google stock. But even a small cut of Google stock is worth big bucks, so I should think On2 was pretty happy with the acquisition.

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