'Google Buys Picnik' that's the latest buzz.. Google has bought Picnik, an online photo-editing application (photo editing software) where people can import and edit photos in a browser. Picnik was formed in 2006, remained a private ownership with about 20 employees. The company will remain in Seattle but will shift to Google's offices in Seattle. Picnik offers various services including free and free based options.

On Monday Google product management director Brian Axe wrote in an official blog that Picnik can integrate with other photo-manage,ment and sharing services like Yahoo's Flickr, Google Picasa, Photobucket as well as Facebook and Myspace's photo album components. He comments that Google wants to cherish and nurture these partnerships.

"We're not announcing any significant changes to Picnik today, though we'll be working hard on integration and new features," wrote Brian Axe.

Picnik also wrote its own views about Picnik Google alliance in a blog post saying that Picnik will improve its service and it will be faster with the access to Google's technical resources.

The blog says, ""Google processes petabytes of data every day, and with their worldwide infrastructure and world-class team, it is truly the best home we could have found. Under the Google roof we'll reach more people than ever before, impacting more lives and making more photos more awesome."

Picnik's website gets about 40 million visits every month. Average time spent on site being 17 minutes says the company website picnik.com.

So Picnik becomes latest Google acquisition. Surely Google Picnik combination will help both.