It is rumored that Google, based in Mountain View, California, is developing a social networking platform to compete with Facebook and Twitter. Financial terms of the deal were not disclosed but according to the various reports, the deal price is about $200 million.

Google said on the company website that while it doesn't have detailed product plans for Slide to share, it will be using the company as it invests "even more to make Google services socially aware."

Google also said that Slide has already created compelling social network app experiences for tens of millions of people across many platforms, and we've already built strong social elements into products like Gmail, Docs, Blogger, Picasa and YouTube.

Slide's founder and Chief Executive Max Levchin stated on its website that the combination is a great opportunity "to come together to change the way people socialize on the Web," given the two firms' shared vision and values.

World’s most popular search engine, Google's announcement about the purchase social networking app maker Slide, comes several weeks after company made an investment reportedly worth $150 million in social app leader Zynga. Google has bought 21 companies in the first six months of 2010.