Johnson-Grace
Encyclopedia
Johnson-Grace is a data compression
company based in the United States
.
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 algoritihm, and started implementing such an algorithm; this became the ART image file format
.
The company was acquired by AOL
on February 1, 1996 for approximately 1.6 million shares of stock.
Data compression
In computer science and information theory, data compression, source coding or bit-rate reduction is the process of encoding information using fewer bits than the original representation would use....
company based in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
.
The company was founded by Steve Johnson and Chris Grace in Newport Beach, California
Newport Beach, California
Newport Beach, incorporated in 1906, is a city in Orange County, California, south of downtown Santa Ana. The population was 85,186 at the 2010 census.The city's median family income and property values consistently place high in national rankings...
in 1992 to develop a generic spreadsheet technology for simulation modeling. The founders later talked to Irving Reed at the University of Southern California
University of Southern California
The University of Southern California is a private, not-for-profit, nonsectarian, research university located in Los Angeles, California, United States. USC was founded in 1880, making it California's oldest private research university...
, who had an idea for an improved image compression algoritihm, and started implementing such an algorithm; this became the ART image file format
ART image file format
ART is a proprietary image file format used mostly by the America Online service and client software.- Technical details :The ART format holds a single still image that has been highly compressed. The format was designed to facilitate the quick downloading of images, among other things...
.
The company was acquired by AOL
AOL
AOL Inc. is an American global Internet services and media company. AOL is headquartered at 770 Broadway in New York. Founded in 1983 as Control Video Corporation, it has franchised its services to companies in several nations around the world or set up international versions of its services...
on February 1, 1996 for approximately 1.6 million shares of stock.