NEW YORK (TheStreet) --Google Inc. (GOOGL) is said to be acquiring Jetpac Inc., a start-up software developer that analyzes digital pictures, adding to its list of recent purchases, Bloomberg reported.
Jetpac uses information taken from social-media photos in order to create city guides, by analyzing pictures of people, food, and decor.
The acquisition was announced on Jetpac's website, but terms of the deal were not disclosed.EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE
Shares of Google are up 0.68% to $587.68 in pre-market trading on Monday.
Separately, TheStreet Ratings team rates GOOGLE INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate GOOGLE INC (GOOGL) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, disappointing return on equity and feeble growth in the company's earnings per share."
Highlights from the analysis by TheStreet Ratings Team goes as follows: