Google Wave was once one of Google's hottest projects, promising a new way of communication that might even replace e-mail. Alas, it was not to be, and Google shut it down soon after public launch due to lack of user adoption -- but not completely.
Wave still draws interest from users, although it turned out to be more of a niche product than a massively disruptive tool. Recently, Google promised to keep Wave alive, at least until the end of the year, and to open source some parts of it.
Now, Google has finally decided what to do with Wave. According to a recent blog post, Google will release most of the Wave code in the form of an (almost) complete application that Google calls "Wave in a Box."
For exact details on what this bundle will include, go here.