One of my favorite companies purchases one of my least favorite companies. Not sure what to make of that. In any case, Google has announced its acquisition of On2 Technologies, makers of the VP6 video codec (among others) which powers most flash video content. On2 is also the company that created the framework for what became Ogg Theora.
It’s an acquisition that makes a lot of sense. Between YouTube and all of the other Google properties, having an IP-rich video R&D group can only benefit them. And for $100 million, it seems like quite the bargain.