Google has finished its acquisition of video-compression-technology vendor On2 Technologies, boosting its efforts in online video.

The deal closed after gaining approval from On2 shareholders and was valued at $124.6 million, Google said in a brief statement late Friday. The figure was about $18 million more than the value stated when the companies announced the acquisition last year.

On2 provides video compression technologies for mobile video, embedded devices, Adobe Flash Player and VoIP (voice over Internet Protocol). Its customers include Skype, Nokia, Sony and Adobe, according to its Web site.

Google last year said On2 would provide it with video compression technology and that it hoped the acquisition would help further innovation in online video quality. Read more ……

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Technical institutes in India churn out around six lakh students every year but none of their innovative projects are considered worthy of patent. Projects like the ‘black box’ system installed in cars in U.S. and UK to detect a genuine accident is also done by a group of students from Latur-based Women Polytechnic Institute in Maharashtra but was not recognized, reports Times of India.

“Did these Latur students not deserve recognition for their idea? This project was not considered worthy enough for an auto show here,” said Anil Gupta, IIM-A professor and founder of National Innovation Foundation (NIF) and Sristi.

Technical member of intellectual property appellate board (IPAB) S Chandrashekhar, added, “We have managed to upload almost two lakh innovations on our website for access for the public. Today one of our prime concerns is the process of ‘evergreening’ where major pharmaceutical companies by making minor changes in their present products apply for patents.”

To trigger innovation spirit of students in India, SiliconIndia has launched All India Engineering Project Innovation Contest (AIEPIC, pronounced as eye-pic) which aims to identify, promote and reward outstanding engineering talent across India. 30 thousand students have already registered for AIEPIC. This contest is expected to bring together more than six lakh students from 3000+ colleges across India to showcase their projects. Next week onwards we will bring you one innovative project every day as we start a new series to recognize various innovation project done by Indian students.

You can check more information about this unique platform at http://www.siliconindia.com/aiepic/   Read more ……

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