Google Buys Online Video Platform Startup Episodic

After months of rumors that Google (NSDQ: GOOG) was interested in acquiring an online video platform company, it has purchased one: Episodic, which offers what it describes as a “complete” platform “for broadcasting, measuring and monetizing live and on-demand video content” on the web and to mobile devices.

Unlike one other white label video platform company Google was reportedly interested in purchasing — Brightcove — Episodic is a new player in the market, having only launched its complete platform in October (The company initially specialized in helping publishers host “story-driven content” — like web series). Customers include Showtime, which has used Episodic to broadcast live sporting events online.

So why is Google buying the startup? The two companies aren’t offering specific details (response to “Why is Episodic excited about joining Google?” on the Episodic website: “Episodic and Google share a common vision for video on the Web.”)

But the Episodic team will be joining Google and likely working on YouTube in some way. Google says it was “impressed by the Episodic team, the vision they have for Internet video, and the progress they have made in bringing a great video experience to the web” and says “Episodic has a deep understanding of the requirements of media publishers, marketers, and enterprises that create their own video-enabled sites and experiences.”

No financial terms of the deal were released. Episodic had raised about $2.5 million in funding and said back in October that it was looking to raise more.

For those keeping track, this is Google’s eleventh acquisition in nine months (and eighth since September, when CEO Eric Schmidt declared that the company was ready to start making about one purchase a month).