Google acquires Indian founded Jambool to take on Facebook

Bangalore: Google has reportedly acquired San Francisco-based Jambool and its gaming product Social Gold even though both the parties have not confirmed any such deal, reports Seher Dhillon from Topnews.

The deal has presumably cost Google around $75 million. The Jambool was valued at about $55 million and an additional $15 million to $20 million, if they reach any agreement.

In 2006, the origination of the Jambool took place, which was founded by Vikas Gupta and Reza Hussein, who also runs Amazon.com. Social Gold was introduced in last October, which is an online virtual payment platform that could be incorporated in MMOs, virtual worlds, casual online games, and social games or applications.

Earlier, Google purchased Slide, social games developer for $182 million. Also, the Company injected funds around $100 million to $200 million in Farmville developer Zynga.

It seems that Google is foraying into the gaming segment. The rumors are also hovering around that the Company also had negotiations with the significant social gaming companies like Disney's Playdom and Electronic Arts's Playfish for establishing a games-friendly social network, to give a tough competition to Facebook. There was also news that the network would probably be named as "Google Me". But, there is no sure news that Google would come up with such a network.