Just in case you missed it, the latest Google acquisition news is in: Google has acquired FeedBurner.

FeedBurner is a company that distributes syndicated content for blogs and other media Web sites. It is best known by how it simplified the process by which users create drop-down boxes in browser windows to receive continuous updates from preferred publishers of news, blogs or other web content.

If you are a serious blogger, you will probably already have an account with FeedBurner.

Buying FeedBurner makes sense in that it allows Google to expand its online advertising empire deep into the fast-growing world of direct feeds.

According to Dick Costolo, co-founder and new Google executive: More than 763,000 ‘live feeds’ run through FeedBurner daily delivering content from approximately 430,000 publishers including major news organisations.

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In your opinion, do you think this acquisition will be beneficial or detrimental to the community at FeedBurner? Discuss it here.