Posted by Derrick on May 25, 2010 under Video Streaming and Compression | 
Telestream, a leading provider of digital media tools and workflow solutions, announced broad support for the WebM project along with Google and other industry leaders. The new WebM open web media format, based on the VP8 open source video codec, will be available at no additional charge in all Telestream video encoding, transcoding and workflow products, including FlipFactory, Episode and recently announced Vantage.
“A key factor in the web’s success is that its core technologies are open and freely implementable. Video is fundamental to the web experience, and developers and content publishers need an open video format option,” said Mike Jazayeri, Group Product Manager at Google. “We are excited Telestream is joining a broad coalition of industry leaders supporting the WebM project to bring a new era of open innovation in web video.”
WebM is a flexible format that provides high-quality video across resolutions and bitrates to support a variety of viewing devices. Computational efficiency enables smooth video playback on low-power devices such as netbooks and mobile phones. WebM is optimized for the web and network video delivery, providing fast video starting and seeking within videos. VP8 is based on 10+ years of innovation in video compression by On2 Technologies. Its predecessors have been installed over two billion times, making it proven technology. Google gained access to the VP8 video codec when it acquired On2 Technologies earlier this year.
“Telestream has extensive experience optimizing and deploying On2 technologies and is uniquely positioned to bring the new WebM format to the video consumer, enterprise, media and entertainment markets,” said Barbara DeHart, VP of Marketing at Telestream. “We are excited to join Mozilla, Opera, Google, YouTube, and other software and hardware manufacturers in the WebM project.”
Telestream provides the broadest and deepest video and audio transcoding format support on the market today for desktop to server, Mac and Windows systems. Telestream video compression products support more than 120 digital media formats and wrappers, including WMV9, H.264, VC-1, Flash 8, VP6, MPEG-2, and 3GPP. In addition, Telestream video transcoding and workflow products support direct integration with leading third-party systems, allowing users to create and distribute content to virtually any platform or viewing device.
Tags: encoding, Episode, episode encoding, FlipFactory, Flipfactory encoding, Google, On2 Technologies, open source, Support, Telestream, transcoding, Video, video codec, video compression, video transcoding, VP8, WebM, workflow
Posted by Derrick on March 6, 2010 under Video Streaming and Compression |
Google Inc. announced that it has completed its acquisition of On2 Technologies, Inc., valued at approximately $124.6 million, after On2’s shareholders voted to approve the transaction.
‘We’re excited to welcome the On2 team to Google and to continue to enhance the video experience for users on the web,’ said Sundar Pichai, Vice President of Product Management at Google. ‘Through rapid innovation in browsers and web standards, the Internet is becoming the leading platform for development. We believe On2’s engineering talent and technology will be an incredible asset for us as we work to improve this platform.’
Under the terms of the agreement, each outstanding share of On2 common stock will be converted into the right to receive a combination of (a) $0.15 in cash per share, (b) 0.0010 of a share of Google Class A Common Stock and (c) cash payable in lieu of any fractional shares of Google Class A Common Stock.
Stock Repurchase
Google intends to repurchase in the open market a number of shares equal to the number of shares issued in the transaction. The repurchase program is expected to commence shortly after the completion of the acquisition. The repurchases will be funded from available working capital.
Posted by Derrick on August 11, 2009 under Video Streaming and Compression |
On2 Technologies, Inc. and Google Inc. jointly announced that they have entered into a definitive agreement under which Google will acquire On2, a leading developer of video compression technology. Under the terms of the agreement, each outstanding share of On2 common stock will be converted into $0.60 worth of Google class A common stock in a stock-for-stock transaction. The transaction is valued at approximately $106.5 million.
“Today video is an essential part of the web experience, and we believe high-quality video compression technology should be a part of the web platform,” said Sundar Pichai, Vice President, Product Management, Google. “We are committed to innovation in video quality on the web, and we believe that On2’s team and technology will help us further that goal.”
“We’re thrilled that On2 is joining one of the world’s most innovative companies,” said Matt Frost, interim CEO of On2. “After intensive review of On2 products, Google confirmed our long-held beliefs as to the quality of our video technologies. This transaction is a testament to the hard work of every On2 employee and the strongest possible endorsement of our products and people. On2 will continue to improve, support and sell our products throughout the transition. We believe that Google shares our ambitions and know that our products and expertise, combined with Google’s globally recognized brand, ingenuity and resources, will create an incredible team.”
