According to a written statement (read here), ExitReality, a London, UK-based 3D Internet company, has acquired Koinup, a Brescia, Italy-based image and video hosting site, web portal and online community for virtual worlds users.
The purchase, whose amount was not disclosed, will allow the British company to expand its virtual worlds offerings.
Founded in July 2006 by Pierluigi Casolari and Edoardo Turelli, Koinup operates a free service used both as a photo and video repository platform and as tool to share virtual worlds screenshots, photographs and machinima. It allows members to upload up to 1.5 gigabyte of photos and videos.
The company reached profitability in 2010 through a combination of advertising and affiliation revenue, the statement said.
Founded in 2003 as a web 3D technology platform and led by CEO Danny Stefanic, ExitReality has been building a portfolio of web 3D technologies and properties. including Blaxxun technologies, vSide music & entertainment virtual world and the virtual earth Twinity.