Internet search services provider Google Inc. has announced that it has acquired Jambool, developer of the Solid Gold virtual currency platform that competes with Facebook Credits. Jambool CEO Vikas Gupta and CTO Reza Hussein, who previously worked on Amazon.com, announced the deal in a company blog post.
While the details of the acquisition were not disclosed, media reports indicate that Google is paying about $ 70 million for this acquisition. Jambool's Solid Gold virtual payment platform lets application developers insert payment options into online games and other applications.
With this acquisition, Google seeks to further boost its social-networking presence. Earlier this month, Google announced the acquisition of Slide, a US based manufacturer of social apps for sites like Facebook, Orkut, MySpace, Bebo and Friendster.
Search for more Google information
