Google Acquires Picnik (GOOG, MS)
Internet search giant Google (NASDAQ: GOOG) has agreed to buy online photo-editing site Picnik. This is Google’s (GOOG) third acquisition in as many weeks. Picnik is expected to work in collaboration with Google’s web photo sharing service Picasa. Picnik lets its users edit their digital photos from within a web browser.
Google has acquired 8 companies in the last six months. In October, Google’s CEO Eric Schmidt stated that the company would be looking to make at least one small acquisition every month. Speaking at Morgan Stanley's (NYSE: MS) Technology Conference, the internet search company’s Chief Financial Officer Patrick Pichette said, “Google is beefing up its ranks as business conditions improve.”
The company refused to disclose the financial details of the transaction.
