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 Deals of the day-Mergers and acquisitions

Picnik to its basket of acquisitions
March, 02nd 2010

Google Inc. is adding online photo editing service Picnik to its basket of recent acquisitions.

Financial terms of the deal announced Monday weren't disclosed.

The Internet search leader said it doesn't plan immediate changes at Picnik, which employs 20 people in Seattle.

Picnik's software is used for editing images on Google's photo sharing service, Picasa, and at other Web sites, including Facebook and Yahoo Inc.'s Flickr.

The deal brings Jonathan Sposato, Picnik's CEO, back to Google for a second tour of duty.

In early 2005, Sposato sold another startup called PhatBits to Google, where he remained for nearly a year before Picnik lured him away.

Picnik is the eighth small technology company Google bought in seven months. The shopping spree reflects Google managers are renewing their optimism after limiting their spending in 2009.

Google also wants to buy AdMob, a mobile advertising service, for $750 million, but that deal is still being reviewed by antitrust regulators.

 
 
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