YouTube 'excited' as it buys hi-tech Dublin video firm
Published 16/03/2011 | 05:00
INTERNET giant YouTube, part of the Google empire, has bought a Dublin-based video technology company for an undisclosed sum in a major coup for an Irish hi-tech firm.
Green Parrot Pictures, which has worked on Hollywood blockbusters such as 'Lord of the Rings', 'King Kong', 'X-Men' and 'Spider-Man', is not currently profitable according to its most recent accounts, but has been supported with grants by Enterprise Ireland.
It has been experiencing difficult trading conditions but a link-up with YouTube will put it on a fresh course.
YouTube is paying for access to its exclusive digital technology, which can be licensed by customers from around the world.
Last night YouTube said the Green Parrot team would help ensure that videos uploaded by people from all over the world would be of better quality.
YouTube said Green Parrot was "a small, ambitious company based in Ireland" which could sharpen blurry images, reduce visual noise and create a higher quality video and that YouTube was "excited" to discover them.
And another sign of the growth of the internet came with the news yesterday that a US online gaming company is to create up to 200 new jobs.
Galway received a jobs boost yesterday as ZeniMax Online Studios announced plans to establish its European Customer Support Centre in Galway, the IDA confirmed.
Online games are the fastest growing segment of the global gaming industry. There are now 440 million online gamers around the world, with a revenue potential estimated at $17.4bn (€12.4bn) by 2014.
Green Parrot's chief driving force is Professor Anil Kokaram, who is an associate professor at Trinity College Dublin.
He gained his PhD in 1993 from Cambridge University and moved to Trinity in 1998. He has been working in the area of digital video processing for several years.
The company, which is housed in the Guinness Enterprise Centre near the brewery, was founded by Prof Kokaram in 2004.
He and his team will be moving to California in the coming months, a YouTube statement said.
The Green Parrot Pictures team said they were "excited" by the move.
"We've enjoyed collaborating with organisations in the film industry, as well as all our clients, and we'd like to thank everybody for their generous support," a statement said.
"We're excited to join Google, where we will apply our expertise to improve the online video experience for hundreds of millions of users worldwide," it added.