Google has just acquired AppJet, the makers of a web-based real-time collaborative document editor called EtherPad. The employees who worked on EtherPad will be joining the Google Wave team. What does this mean? Well, I'd guess the reason for this is to make Google Wave a whole lot faster. One of EtherPad's main selling points was that it was really fast.
After all, Wave in its current state ends up being very slow and clunky after 150 or so posts in a wave. If this acquisition can help that, this is very good news. Once that problem is taken care of, it seems like it'll almost be ready for a final release.