On2 Technologies Provides Update On Its Proposed Merger With Google
CLIFTON PARK, N.Y. -- Dec. 7, 2009 -- On2 Technologies (NYSE Amex: ONT) today provided an update regarding its proposed merger with a subsidiary of Google Inc. (Nasdaq: GOOG - News) on its website at www.on2.com. The update, which is also being filed with the SEC, includes certain transaction highlights and frequently asked questions.
As announced on August 5, 2009, On2 and Google entered into a merger agreement pursuant to which Google will acquire On2. Under the merger agreement, each outstanding share of On2 Common Stock will be converted into $0.60 worth of Google Class A Common Stock based on an exchange ratio that is more fully described in the proxy statement/prospectus, referenced below, although On2 stockholders will receive cash in lieu of any fractional share of Google stock.
On November 4, 2009, On2 announced that the Securities and Exchange Commission ("SEC") had declared effective the Registration Statement on Form S-4 that Google filed in connection with the proposed merger, which includes a Proxy Statement of On2 and also constitutes a Prospectus of Google Inc. (the "proxy statement/prospectus"). By now, stockholders as of the notice record date should have received the proxy statement/prospectus. Any such stockholder who has not received the proxy statement/prospectus can call Innisfree M&A at (877) 456-3488. International holders can call Innisfree at +1 (412) 232-3565.
On2's Board of Directors unanimously approved the transaction (with one abstention), and recommends that On2 stockholders vote for the proposed merger.
On2 will hold a special meeting of stockholders on December 18, 2009 to vote upon the proposed merger, which requires approval by the holders of a majority of On2's outstanding shares of Common Stock. If stockholder approval is obtained and the other conditions for the completion of the merger are satisfied, the merger should become effective within two business days of the special meeting.
About On2 Technologies
On2 creates advanced video compression technologies that power the video in today's leading desktop and mobile applications and devices. On2 customers include Adobe, Skype, Nokia, Infineon, Sun Microsystems, Mediatek, Sony, Brightcove, and Move Networks. On2 is also an industry leader in video transcoding software and services. On2 Technologies is headquartered in Clifton Park, New York. For more information visit www.on2.com.
|
On2 Technologies Inc. Hot IP
Related News
- On2 Technologies Reports Proposed Settlement in Litigation Involving Proposed Merger With Google
- On2 and Google Announce Exchange Ratio for On2 Merger
- On2 Announces Early Termination of HSR Waiting Period in Connection with Proposed Acquisition of On2 by Google
- Parthus Technologies and DSP Group Provide Update on Proposed Merger
- Google TV Devices with Vivante GPU Cores Ready for Android Jelly Bean Update
Breaking News
- Expedera Introduces Its Origin Neural Engine IP With Unrivaled Energy-Efficiency and Performance
- PLDA Introduces a Complete Line of PCIe IP for USB4, Enabling PCIe Support in USB4 Hubs, Hosts and Devices
- DSP Concepts Enables Audio Weaver for the Cadence Tensilica HiFi 5 DSP
- Logic Design Solutions Introduces the first NVMe HOST IP on POLARFIRE SoC FPGA
- TSMC Boosts Capital Budget Again, to $30B
Most Popular
- Synopsys To Expand DesignWare Ethernet IP Portfolio with Acquisition of MorethanIP
- Siemens expands industry-leading IC verification portfolio through acquisition of OneSpin Solutions
- Arm and NVIDIA: Fueling Innovation for the Next Era of Compute
- OpenFive Tapes Out SoC for Advanced HPC/AI Solutions on TSMC 5nm Technology
- Avery Design Debuts CXL 2.0 System-level VIP Simulation Solution
![]() |
E-mail This Article | ![]() |
![]() |
Printer-Friendly Page |