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Google Inc.’s aggressive expansion in diversified markets continues with the acquisition of Green Throttle games, a gaming company and developer of the Green Throttle Controller. As per the agreement, two of the co-founders, Matt Crowley and Karl Townsend, will join team Google. However, the financial terms of the deal were not disclosed.

Green Throttle Games, founded by Charles Huang, Matt Crowley and Karl Townsend, is a maker of video games as well as peripherals. The company's first creation, the Bluetooth Atlas controller, was compatible with the Gamestick video game console and had a design similar to that of Microsoft Corp’s (MSFT - Analyst Report) Xbox 360 controller. It also created the Android Arena app, which allowed users to transform smartphones or tablets into temporary consoles.

The Atlas Controller and Arena app worked together through Bluetooth and could attach up to four devices to smartphones or tablets at the same time. It seems that the acquisition will help Google improve its budding controller’s Bluetooth function.

The acquisition adds fuel to the rumor that the search giant is set to venture into the living room with a set–top box to take on the likes of Inc. (AMZN - Analyst Report) and Apple Inc. (AAPL - Analyst Report). The set-top box would stream content and games from the Internet apart from enabling viewers to watch regular television programs.

Reportedly, Google is in discussions with media groups regarding content licensing for an Internet TV service through which conventional TV programs can be streamed directly.

Furthermore, there is a buzz that Google will also release a smartwatch, which will be built by LG Electronics to compete against similar products from Apple and Intel.

Google currently holds a Zacks Rank #3 (Hold).

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