On2 acquires Hantro Products for $6.8M

Video compression software and solutions developer On2 Technologies announced its $6.8 million acquisition of mobile video technology provider Hantro Products. Per terms of the deal, On2 will acquire Hantro for a combination of cash and shares of On2 common stock–after closing, expected before mid-August 2007, Hantro stockholders will own approximately 12 percent of the combined company on a pro forma basis, and Hantro will become a wholly-owned On2 subsidiary. According to On2, the agreement will accelerate the deployment of its technology on mobile device semiconductor chipsets–Hantro boasts optimized video compression implementations on more than 200 existing million mobile devices via handset makers including Nokia and Sanyo.

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