Google has acquired online video hosting platform Episodic, the latest move in its YouTube-related buying spree.

Episodic‘s publishing platform manages live and on-demand video content and enables ad insertion and credit card transactions.

It’s actually only formatted for the iPhone right now, but the company’s promising Android, Blackberry and Symbian device support soon.

The team will presumably be absorbed into YouTube, although they’re not giving much away.

At Episodic, we have always felt that these are the very early days of online video and that there is far more growth to be had. To put it in perspective, our industry is barely 15 years old,” say Episodic co-founders Noam Lovinsky and Matias Cudich.

“From our earliest discussions with Google, it was clear that the teams shared this belief and together we obviously see huge potential in online video. Our product visions were also complimentary and together we will continue to produce innovative video technology for our customers and their viewers.”