On2 Technologies Licenses Video Technology to Tencent Holdings Limited of China
7 November 2005
On2 Technologies, Inc. (Amex: ONT - News), today announced that Tencent Holdings Limited (SEHK 700) has licensed On2's video compression technology to enable a new wave of video-enhanced PC Instant Messaging, online gaming and online entertainment applications for its hundreds of millions of customers throughout China. Tencent is the leading Instant Messaging (IM) service provider in China, and is a leading provider for Internet and IM-related value-added services in the region.
On2's non-exclusive licensing agreement with Tencent is the latest in a series of initiatives by a growing number of instant messaging, online gaming and video-enabled content developers around the world, signaling a rapidly-emerging market opportunity to create and deliver video-enhanced, value-added Internet content and communications services.
"Tencent is the premiere instant messaging and digital media content provider in China and, as a result of this partnership, is on the threshold of delivering a breadth of new video-enabled PC applications to over a hundred million consumers throughout the region," said Douglas McIntyre, chairman, president and chief executive officer of On2 Technologies.
"As the majority of our users upgrade to broadband services, we understand that an increasing range of online services are going to require high quality video. We look forward to partnering with On2 as a leading provider of video compression technology solutions," said David A.M. Wallerstein, Tencent's Senior Executive Vice President of International Business.
About Tencent Holdings Limited
Tencent Holdings Limited is a leading provider of Internet value-added services in China. Tencent serves the largest instant messaging (IM) community in China as measured by registered IM user accounts. The Company's IM platform allows users to communicate in real-time across the Internet using various terminal devices.
About On2 Technologies, Inc., The Duck Corporation
On2 Technologies (Amex: ONT - News) is a leading technology firm at the forefront of video compression. The company revolutionized digital media delivery with the creation of its advanced full-motion, full-screen, On2 Video compression and streaming technologies. On2 Video codecs are used extensively in the video-on-demand, videoconferencing, Internet media, surveillance, and store-and-play markets. They operate with On2's own TrueCast Server and Player software, as well as third-party player and server products. On2's software is used by such leading companies as Sony, XM Satellite Radio, NTT, AOL, BBC, ABC News, Nullsoft, SeaChange International, and Macromedia. The On2 Video decoder has an installation base of millions through its inclusion in AOL 9 Media Player, Winamp 5, Viewpoint Media Player, and others. On2 licenses its software for use in set-top boxes, consumer electronics devices and wireless applications and offers high-level video encoding, customized technical support, and consulting/integration services. Located in New York City, the company has an office in Clifton Park, NY, and operations in Cambridge, UK. To contact On2 write to sales@on2.com or visit http://www.on2.com .
Source: On2 Technologies, Inc.
Source: PR Newswire
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