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Tuesday, March 15, 2011

YouTube buys Irish video tech company Green Parrot, (NASDAQ: GOOG)

Google Inc (GOOG.O) online video service YouTube said on Tuesday it bought Green Parrot Pictures, whose video software has been used in several Hollywood blockbusters. The Dublin, Ireland-based company specializes in providing intellectual licensing and high quality picture manipulation technology. Its video improvement technology has been used in movies such as "Lord of the Rings," "Spider-Man" and "King Kong," among others. It was founded in 2004 by Chief Executive Anil Kokaram, an associate professor at Trinity College in Dublin. Kokaram and his team will be moving to California in coming months.

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