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Johnson-Grace 
Summary
Johnson-Grace is a data compression company based in the United States.
| Company type | Subsidiary |
|---|---|
| Industry | Data compression |
| Founded | United States |
| Headquarters | United States |
| Parent | AOL |
The company was founded by Steve Johnson and Chris Grace in Newport Beach, California in 1992 to develop a generic spreadsheet technology for simulation modeling. The founders later talked to Irving Reed at the University of Southern California, who had an idea for an improved image compression algorithm, and started implementing such an algorithm; this became the ART image file format.[1]
The company was acquired by AOL on February 1, 1996, for approximately 1.6 million shares of stock.[2]
Notes edit
- ^ Bhidé, Amar V.; Santoro, Michael A. (1995-10-02), Johnson-Grace: March 1994 (Case 9-396-096), Harvard Business School Publishing
- ^ "America Online, Inc. Acquires Johnson-Grace; Technology Brings Rich Graphics And Sounds To AOL And The Web; Enhances Interactive Experience For Millions Of Consumers Connecting At Low Speeds" (Press release). America Online, Inc. 1996-02-01. Retrieved 2010-01-15.
Further reading edit
- Vranizan, Michelle (1994-11-25). "Making a splash: TECHNOLOGY: On the heals of its America Online deal, Johnson-Grace is looking to go big time". Orange County Register. Retrieved 2010-01-16.