Thursday, January 7, 2010

Google, On2 Increase Acquisition Price

Mountain View-based Google, a New York-based On2, said this morning that they have agreed to amend their merger agreement, increasing the price Google will pay for On2. The two said that they will add an additional, $0.15 per share in cash for each share of On2 common stock. The move adds around $26.5M to the acuqisition price, on top of the $106.5M in Google stock included in the deal. The firms said the move came due to the increase in market value of Google's Class A common stock. Both firms had been under pressure by On2 shareholders to increase the value of Google's offer.