NEW YORK-Video compression company On2 Technologies Inc. said it has raised $4 million through the sales of its shares to two investors.
Midsummer Investment Ltd. led the deal, said On2.
“This financing strengthens On2’s institutional shareholder base, cash position and balance sheet and puts us in a stronger position both to complete an accretive strategic transaction and continue to increase our market share in the digital video space,” said Doug McIntyre, chairman, president and chief executive officer of On2.
