Google Buys LabPixies

Google has acquired its first Israeli company, Web and mobile applications outfit LabPixies. Among the first companies to build gadgets for iGoogle, LabPixies ranks as the personalized homespage service’s top developer. No surprise, then, that Google (GOOG) would snap it up to juice social app development in the iGoogle ecosystem.

Said Google’s Dan Loeb, “We are looking forward to working with Labpixies to develop great web apps and leverage their knowledge and expertise to help developers and improve the ecosystem overall.”

Terms of the deal weren’t disclosed, though Israeli financial news site TheMarker pegs LabPixies’ purchase price at about $25 million.