hi5 Acquires Virtual World Creator PixVerse

Social network hi5 has announced that they are acquiring PixVerse. Founder Charles Ying describes PixVerse as, PixVerse is a next generation virtual world company". PixVerse has been part of the hi5 OpenSocial implementation since the beginning and was an early adopter of the Google App Engine Web platform. PixVerse was backed by Venrock. Financial terms of the acquisition were not disclosed.

We will see more of these application acquisitions as the various application platforms grow. Check out hi5's OpenSocial updates from earlier this month.

Here's an video with Ying explaining what Pixverse is, how it works and their usage of OpenSocial: