Google Acquires AppJet

Mountain View-based Google has acquired San Francisco-based AppJet, a developer of a web-based word processing product called EtherPad. Financial terms of the buy were not disclosed. According to AppJet, the firm's team will join Google to work on Google Wave. As part of the buy, AppJet said it was shutting down the EtherPad service, however, after widespread protests by AppJet's users, the firm said it will look to open source EtherPad's source code, and migrate users to Google Wave.