Google has acquired California based video mashup/presentation company Omnisio in order to provide enhanced video editing options and video collaboration tools and features to Youtube users.
Omnisio founders Ryan Junee, Julian Frumar and Simon Ratner expressed hope that the deal would help to make YouTube even more attractive to users through integration of Omnisio's advanced video editing and collaboration tools.
Neither Google nor Omnisio have commented on the price of the acquisition, but it is clear that the Omnisio team is going to join YouTube. In fact, from the announcement (seen below), it seems that perhaps Google was primarily interested in the talent pool at Omnisio. Clearly they hint at this in the announcement and do not really touch on the actual technology provided by Omnisio.
"It's in this spirit that we're thrilled to announce Google's purchase of Omnisio, a small California-based startup that's focused on making online video more useful and collaborative. The Omnisio team has tremendous technical expertise when it comes to advanced video tools and having this kind of talent at YouTube should help us further explore ways to enhance your YouTube experience."