Google has agreed to acquire video processing firm On2 Technologies for an undisclosed sum. Pending approval from shareholders, Google hopes to finalise the deal by the end of the year.
"Today video is an essential part of the web experience, and we believe that high-quality video compression technology should be a part of the web platform, " said Google vice president of product management Sundar Pichai.
On2 specialises in the production of video codecs and compression tools, and has licensed some of its technology to Adobe and Sun Microsystems for use in video players and browser plug-ins.
Google video engineering director Jeremy Doig and group product manager Mazayeri declined to reveal Google's future plans while announcing the deal on the company's official blog.
"Although we're not in a position to discuss specific product plans until after the deal closes, we are committed to innovation in video quality on the web, and we believe that On2 Technologies' team and technology will help us further that goal," the pair wrote.
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