Social network hi5 has just announced its acquisition of application creator PixVerse for an undisclosed amount. PixVerse, the Flash-based virtual world chat platform, has branched out into social networking applications such as Pix Chat and Pix Wall, both of which have gained some traction on hi5's social network platform, among other places across the Web. Founded last year, PixVerse was funded by Venrock for an undisclosed amount.
The purpose of PixVerse's cross-platform approach to its virtual presence is to allow users to chat across the Web. Given the success of both virtual world chat environments such as IMVU and the continued uptake of application creators -- from Photobucket to Crushes -- it's not entirely surprising that hi5 is looking to a more integrated application approach for remaining competitive in this market.