They both solve entirely different problems for different markets.
G2 is changing the way video is formatted (distrib/watermarked etc). G2 eliminates the idea of a player (application) altogether. THAT is what enables any device/OS to play any G2 formatted video.
The other solution enables ANY application (like a media player) to play on any device/OS.
Both solutions are disruptive and both companies could target the SAME company for a different reason.
I think they could work together but I imagine each co is up to their eyeballs with demand that I dont see any joint deals in the near future.