Nokia is buying online photo- and video-sharing start-up Twango, a private company in Redmond, Wash., reportedly for less than $96.8 million.
The Seattle Times is one of several publications reporting the story, with full details.
Nokia will integrate Twango to support hundreds of thousands of users on PCs and cellphones. Twango is a useful, straight-forward product for media sharing. The deal is good news for dozens of other photo-video companies, because it shows acquisitions in this crowded industry still do happen.
The Twango service is free for now, but Nokia may charge for certain features to be developed. Nokia has already partnered with companies like Flickr (photo sharing) and Six Apart's Vox (blogging software). Nokia has also acquired digital music distributor, Loudeye for $60 million, and German navigation software company Gate5 for an undisclosed amount.
The deal comes as competitor Samsung is readying a "YouTube phone."