Wired’s Epicenter is reporting that Google may be acquiring contact management powerhouse Plaxo for just under $200 million.

I’ll reserve comment on this, as it is only a rumor for now, but this would be a MAJOR development if true.

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I’m seeing the rumor mill pick up some serious steam on the oft-talked-about gPhone (real name TBD) to (possibly) be released by the Google.

The Wired Blog Compiler has a nifty little post hinting that an official announcement may come as early as September. Here’s what you need to know:

According to Rizzn’s source at Google, the device runs a modified version of the Linux kernel and has GPS built in. The positioning system will be used to power a Google Maps application, and the phone will also have tight integration with other Google apps like Gmail, Calendar and Docs. The source for Rizzn’s post notes that the company will announce the device in two weeks, and that a North American version will be available soon, possibly by the end of the year.

Rizzn also notes that Google’s mobile device “is less about beating the iPhone and more about beating the $100 Laptop” made by the OLPC project. He speculates that Google will sell the phones for cheap and then reap ad revenue from targeted, text-based ads served to the phone. This isn’t entirely new information, but it’s interesting to hear the comparison with the OLPC — at the least, we’ll see an inexpensive, accessible device that uses open-source software.

Read the rest here.

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