AppJet Inc. is the company behind EtherPad, a real-time collaboration tool somewhat similar to Google's own Wave. More about the acquisition here. Naturally, EtherPad team will be working on improving Wave in the future. The original plan was to discontinue the EtherPad, but because of user demand, Google decided to keep EtherPad online at least until its code is published as open-source. It was not originally planed to release the code either, but it was decided that it would be a fair compensation to EtherPad users. More about this here.