Google's YouTube has bought digital video technology company Green Parrot Pictures, a move to enhance video quality and playback speed while reducing bandwidth on the web's most popular video-sharing site.
The company specializes in "motion based manipulation of film and video. Our algorithms are used worldwide in the film post production industry," according to Green Parrot's website.
Green Parrot was founded in 2004 in Dublin, Ireland. Google was impressed with the company's technology, which has been used in major motion pictures including "Lord of the Rings," "X-Men," and "Spider-Man."
"With the equivalent of over 170,000 full-length movies uploaded to YouTube every week, the team's experience in this area -- working on solutions for both video consumers and experts alike -- will be a source of new ideas and further innovation at YouTube and across Google," wrote Jeremy Doig, Director, Google Video Technology on the YouTube Blog. "We look forward to working with them to make the videos you upload every minute of every day to our site look even better.
Green Parrot also posted this message about the acquisition:
We're excited to announce that Green Parrot Pictures has been acquired by Google!
We've enjoyed collaborating with organizations in the film industry as well as all our clients, and we'd like to thank everyone for their generous support.
As the number of video creators worldwide and the richness of their video increases, demand for our technology has grown across multiple platforms.
We're excited to join Google, where we will apply our expertise to improve the online video experience for hundreds of millions of users worldwide on many different products, platforms and services.
Just last week YouTube bought Next New Networks.
Google's 2011 Acquisitions