On2 Technologies' special shareholders meeting to reconvene Wednesday

By Lisa Kerner

Charlotte, N.C., Dec. 18 - On2 Technologies, Inc. stockholders voted to adjourn the company's special meeting on Friday to provide additional time to solicit proxies on the merger proposal with Google Inc.

The meeting will reconvene at 4 p.m. ET on Wednesday, and the record date remains Dec. 3, according to an On2 news release.

"Since a large number of On2's stockholders have not yet voted, including many retail investors, we believe it is appropriate to adjourn the meeting and extend the voting deadline in order to give these investors a chance to vote," On2 interim chief executive officer Matthew Frost said in the release.

As previously reported, On2 and Google announced the $106.5 million all-stock deal in August.

Under the terms of the agreement, each share of On2 will be converted into 60 cents' worth of Google stock.

On2 is a Clifton Park, N.Y.-based video compression software company.

Mountain View, Calif.-based Google said it expects the acquisition to improve its online video quality.

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