Video-compression technology vendor On2 Technologies Inc. announced it acquired Finland-based Hantro Products Oy, a firm that sells video software to cellphone makers. On2 will pay around $58.5 million for the company, although the number is dependent on a variety of factors, including On2’s stock price.
“We have long set the standard for excellence in video with our codec technology. By gaining access to Hantro’s technology and expertise in chip implementation, we expect to be able to extend our reach on devices,” said Bill Joll, president and CEO of On2.
Hantro said its video technology has been installed on more than 200 million cellphones, including phones from five of the world’s top-six handset manufacturers. Hantro counts Nokia Corp., Sanyo and others as customers.
Hantro said it expects to generate between $8.1 million and $12.2 million in revenues this year.
On2 acquires Hantro for video on cellphones
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