On2 Technologies, Inc. (Amex: ONT), a leader in video compression software and solutions, announced today that it is the recipient of the 2006 Frost & Sullivan Technology Innovation Award in the field of advanced video compression, in recognition of its TrueMotion VP7 video codec.
Frost & Sullivan selected On2 TrueMotion VP7 on the criteria of new research resulting in innovations that have or are expected to bring significant contributions to the industry in terms of adoption, change, and competitive posture, based on an independent analysis of compression technologies for 2006. "VP7 continues On2's tradition of providing the best codec available at the time for target applications, and represents the pioneering work On2 conducts in the field of video compression," said Bill Joll, president and CEO of On2. "Building on the success of earlier VP6 as the de facto Internet video standard with Adobe® Flash® video, VP7 was designed for bandwidth sensitive applications and real-time video solutions, such as mobile video, high definition, and video conferencing. VP7 is already the codec for market leading applications in these segments and its adoption continues to proliferate."
Since its introduction, On2 VP7 has been adopted by such well known communications services as Skype™ video calling and AOL's video Instant Messaging, accounting for over 200M deployments, and growing.
Frost & Sullivan's analysts interviewed hundreds of companies and conducted extensive primary and secondary research to determine those most worthy of recognition. The judging criteria included pace of research, the potential impact of the innovation on an industry, and breadth of intellectual property related to the innovation, such as patents.
"On2's VP7 codec insists on seamless video streaming without affecting the video quality, catering not only to broadband users but also dial-up users. Mobile video applications are highly benefited as the codec enables superior compression suitable for on-demand and live video feeds," notes Frost & Sullivan Research Analyst Narendran Vaideeswaran.
TrueMotion VP7 is the next generation video compression technology to On2's VP6 codec, currently licensed to Adobe and the video for Adobe Flash Player 8, the predominant video format for Internet video and user generated content sites. Both codecs compress large video content into small files with virtually no loss in quality, allowing quality video to be delivered to devices with limited bandwidth connectivity. One of the unique features of VP7 is the ability to control the minimum and maximum rate at which video data is streamed.
About On2 Technologies, Inc.
On2 Technologies (Amex: ONT) a software technology company is at the fore of digital video compression. The company revolutionized digital media delivery with the creation of its advanced full-motion, full-screen On2 TrueMotion® video compression for streaming and embedded applications.
On2 Video codecs 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 R&D offices in Clifton Park, NY, and Cambridge, UK.
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