Hi5 Plucks An App Developer From Its Platform

Second-tier social network Hi5 has acquired app developer PixVerse for an undisclosed amount, just four months after launching its app platform based on the OpenSocial specification.

PixVerse offers several applications such as Pix Chat and Pix Wall, which are Flash-based and run on not only Hi5 but other social networks like Facebook as well.

The company was founded in February 2007 and is financially backed by Venrock. It was also one of the earlier adopters of Google App Engine.