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March 1, 2007
ON2 TECHNOLOGIES APPOINTS JAPAN'S NOVATEC CORPORATION AS OEM DEVELOPMENT PARTNER
Leading embedded technology company to develop OEM solutions for On2 TrueMotion®
video compression schemes
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TARRYTOWN, NY, March. 1, 2007 - On2 Technologies, Inc., (AMEX:ONT), a leader in video-compression software and solutions, announced today that it has inked an agreement with Japan's Novatec Corporation to license its TrueMotion VP6 and VP7 compression schemes for OEM applications in the embedded Consumer Electronics device market.
"Novatec is a leading technology company, with an impressive roster of OEM customers and specialized development capabilities in the semiconductor and on-chip systems design," said Bill Joll, president and CEO of On2 Technologies. "With this partnership, On2 will have a capable team to port and qualify our video codecs for the growing market of video consumer electronics devices with large OEMs."
As a result of this agreement, Novatec will represent On2's products to target customer segments within Japan and will also support product development, testing and qualification needs of On2's global customers for embedded applications.
"On2's video compression technologies are ideally suited to the growing market of consumer grade devices on account of the high quality and low power consumption capabilities of On2 TrueMotion® video codecs," said Ichiro Saji, president and CEO of Novatec. "The agreement between On2 and Novatec brings two highly specialized companies together with tremendous benefits to customers in getting the among the best video solutions possible, and in a time and cost efficient way."
About On2 Technologies, Inc.
On2 Technologies (Amex: ONT) is a leading technology firm at the forefront of digital 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 codec are widely used in the Internet, video-on-demand, VoIP, and mobile media markets. On2's software is used by such leading global companies as Adobe/Macromedia, AOL, Skype, XM Satellite Radio, Sony, CTTNet, VitalStream, and Tencent. Located in Tarrytown,
NY, the company has an R&D offices in Clifton Park, NY, and Cambridge, UK. To contact On2, write to
sales@on2.com or visit http://www.on2.com.
About Novatec Corporation
Novatec Corporation is a leading solution integrator for embedded systems, especially in the network and communications field such as VoIP, IP-PBX, routers, and networked CE products. Novatec provides hardware and software application solutions, development kits, and turnkey solutions to shorten the time-to-market for OEM manufactures. Located in Tokyo, Japan. To contact Novatec, write to
sales@novatec.co.jp or visit http://www.novatec.co.jp.
Trademarks mentioned in this release are property of their respective owners.
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