Google Acquires Jambool And Social Gold

Google has reportedly acquired Jambool and Socila Gold in a move to add expertise to is rumoured forthcoming new social network.

According to a report by the Wall Street Journal on Monday, Google has purchased San Francisco-based Jambool, along with its online payment system Social Gold, for $70 million.

Although neither company has commented on the news, technology news website Tech Crunch has cited multiple anonymous sources who have confirmed the acquisition.

Jambool was founded by former Amazon employees Vikas Gupta and Reza Hussein in 2006, and Social Gold was launched in 2008. The application allows users to integrate their payments directly to social games and other apps.

Google announced the acquisition of San Francisco-based social games developer Slide for $182 million last week.

The company had also invested $100-$200 million in Zynga, the developer of the popular Facebook gaming applications Farmville and Mafia wars.