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Google Buys Omnisio for YouTube

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Google has acquired video mashup/presentation company Omnisio for an undisclosed sum (TechCrunch has heard the deal was all cash and in the $15 million range). The company will be incorporated into YouTube’s offering. We’re trying to get details, but Omnisio co-founder and CEO Ryan Junee has declined to comment and Google had not responded to a request for comment as of this posting.

The online service allows users to extract clips out of videos from sources like YouTube and and string them together. The tool also allows users to add comments within the video (similar to the Video Annotations tool that YouTube launched earlier this year).

Adding some video editing punch wouldn’t be a bad idea for YouTube; Craig was less than pleased with the company’s first attempt.

Omnisio launched publicly in March, was backed by Y Combinator (amount undisclosed) and has three employees: Ryan Junee, Julian Frumar and Simon Ratner.

While some video mashup and annotations services have struggled for a business model — Cuts was sold at a loss and Eyespot is now a white-label video service — the category also contains some of the only online video companies to have had an exit. Hulu acquired Chinese startup Mojiti last year (though that was for its tech team, not its product), and editing site Jumpcut was acquired by Yahoo in September of 2006.

As far as we know this is the first acquisition ever made for YouTube.

UPDATE: YouTube responded by email with the following comment for this story:

“We’re impressed by the Omnisio team, its passion for online video, and its comprehensive set of online video tools. YouTube strives to provide its community with the best possible online video experience, and we believe that this acquisition will enhance that experience.” The statement went on to say, “Terms of the deal are confidential, and the deal is now officially closed.”

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