On2 Technologies Completes Business Combination with Hantro Products
On2 Technologies, Inc., a leader in video compression solutions, announced that it has completed its business combination with Finland-based Hantro Products Oy, a leader in multimedia for mobile devices. The transaction, which was accomplished by an exchange of shares, was finalized on November 1, 2007. Hantro has now become a wholly-owned subsidiary of On2.
With the addition of Hantro, On2 consolidates its position as a leading international provider of video compression solutions for all major IP delivery platforms and devices. The acquisition expands On2's TrueMotion product and technology portfolio across all market segments important for advanced video compression. As a result, On2 now has the capability to address the broad needs of customers who comprise the leading businesses in web technologies, VoIP, mobile devices and semiconductor.
"Our combination with Hantro and its team emphasizes our commitment to bring high-quality video to any application or device, and provide our customers both hardware implementations and software solutions for our codecs," said Bill Joll, president and CEO of On2 Technologies. "As of today, On2 is a stronger company with a broader foundation, greater resources and a wider international presence than ever before. We look forward to delivering the promise of this transaction to our customers and our shareholders."
