Google takes over video compression firm
Search engine giant Google said it will pay an estimated $106.9 million in stock to buy On2 Technologies.
On2 is a company specializing in video compression technology and Google's YouTube needs technology like this.
On2 reported a loss in May and had revenues of $4 million in its last reported quarter.
The Mountain View firm's technology was described by a Google representative today as an essential element of the Web.