Google has acquired yet another startup- Wildfire( a social advertising startup).  Wildfire describes itself as “an easy-to-use yet powerful tool to grow, engage, and monetize your audience on Facebook, Twitter, YouTube and LinkedIn.” Wildfire Interactive, Inc. specializes in developing simple tools that enable companies to engage the fans and followers across multiple social networks. The company’s  patent-pending technology allows companies to easily integrate  promotion techniques like sweepstakes, contests and coupon giveaways with the viral features of the social web to create engaging promotions that spread like wildfire.

In a statement released by Wildfire, the company said: “Today we are about to start a new chapter of our story and we couldn’t be more excited to share the news: Wildfire is joining Google! We truly could not think of a more perfect home for Wildfire. It makes us so happy to know that joining with Google will make it easier for us to realize our vision of changing the way the world markets and enable us to live up to our commitment to make Wildfire an incredible place for our team and our customers.”

Reuters has reported that Google paid about $250 million for the business, according to a person familiar with the deal. The source is not authorized to speak publicly about the transaction and requested anonymity.

AllthingsD has indicated that Google will integrate Wildfire into its growing display advertising “stack,” which is anchored by DoubleClick and Google’s AdX exchange.

Founded  in 2008, Wildfire has about 400 employees and powers social media marketing for more then 16,000 businesses, including 30 of the top 50 global brands.