Credit: Shutterstock photoGoogle Inc. ( GOOGL ) recently acquired Quest Visual Inc., the maker of the Word Lens translation application. The staff of Quest Visual will join Google Translate. However, neither party disclosed the financial terms and conditions of the deal.
Google Translate is the search engine's free translation service that offers instantaneous translations of words, sentences and web pages between any combinations of different languages. With this deal, Google can integrate Quest's advanced translation technology into its own platform to boost its extensive language exposure and translation tools in the future.
Moreover, the acquisition of this innovative technology seems a smart move since it will help Google in achieving its aim of a futuristic world with its innovative software and product offerings.
Quest Visual Inc. created its famous camera-based free Word Lens app in 2010, which translates words in print from one language to another in real-time without a data connection. Word Lens scans and identifies printed words by using built-in cameras on smart devices, translates them into another language and shows the results on the device's display.
Word Lens, initially available only on Apple 's ( AAPL ) iOS, was later made available on Google Android as well as Google Glass. Although the app is free, it charges money for any in-app purchases. Following the acquisition, the app will be available for free for a limited time period.
Google has been exploring various ways to diversify its revenues and fight competition from tech companies like Facebook ( FB ) and Yahoo ( YHOO ). Acquisitions have been a key tool to accomplish its goal of increasing demand for its web features.
Some of its recent acquisitions include Stackdriver Inc., a startup that offers cloud application monitoring services to enhance monitoring features; Appetas, a restaurant website creator to increase its foothold in the restaurants space and Adometry Inc., a marketing analytics and maximization platform to boost its online measurement and analytics offerings.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
APPLE INC (AAPL): Free Stock Analysis Report
FACEBOOK INC-A (FB): Free Stock Analysis Report
YAHOO! INC (YHOO): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
