The purchase of Episodic marks Google's fifth acquisition so far this year. Terms of the deal announced Friday weren't disclosed.
Episodic, based in San Francisco, provides a platform for streaming live video on the Web. YouTube recently has been showing more live video besides the more than 500 million clips that are continuously available on its site.
Google has said it intends to buy at least one company per month this year as part of its effort to develop more products and import more talented engineers. The company is drawing upon its cash hoard of $24.5 billion to pay for the shopping spree.