Moodstocks, based in France, is known for its image recognition API for smartphones which can recognize objects extremely quickly straight from your phone's camera (as you can see in the video below). Google will reportedly have the engineers from Moodstocks join its research and development site in Paris. In a statement about the acquisition, Moodstocks wrote:
Moodstocks said the purchase should be done within a few weeks and it will mean that its current product will be discontinued, but paying customers will be able to continue using it until the end of their subscription.
There's no word on how much Google paid for the company.