With the acquisition of eBook Technologies Inc. (ETI), a company specializing in electronic books-related technologies, both hardware and software, Google has now made an entry in the e-Book market. It has also launched a new e-book online store, a lot like Amazon, which though still is in its early stages.

In a statement by an official, eBook Technologies is excited to announce that we have been acquired by Google. Working together with Google will further our commitment to providing a first-class reading experience on emerging tablets, e-readers and other portable devices.

Up till now Google’s strategy had been to offer a web based platform for distribution of books without entering the e-book reader device market unlike Amazon which had introduced Kindle. Through its online bookstore opened last year it was catering to multiple formats and devices, but this recent acquisition signals Google’s entry into such devices. ETI had been developing 2 designs and software for a reader of its own before acquisition. With this acquisition Google instead of just providing books and using other readers will now make new advances into this industry.

The current Google store provided books in all compatible formats for tablets. It currently caters to approximately 3 million books but it is soon expected to grow up to 50 million books. Google with ETI on board could also be planning to enhance the eBook software on its Tablet influenced Android Honeycomb release. This is a multi-billion dollar market which Google will not want to lose especially with the increase in the student population’s usage of these readers, plus also with an entry in this market Google could further spread its ad business.

Many devices are compatible with Google eBooks, everything from laptops to netbooks to tablets to smartphones to e-readers. It wouldn’t come as a surprise if in the coming months Google introduces an eBook reader bundled with its eBooks store to rival Amazons Kindle. Google’s eBooks store in a refreshing change from other online stores only caters to marketing of books unlike other websites which are a portal for sale of varied products. It also is providing quite a few of classics fro free on its online store to attract more people. Dedicated work on its portal, better reviews and Google might just pose a threat to Amazon.

Google as always is making new headways to capture the already present markets like it did with its Android platform and revolutionizing the phone OS market. What waits to be seen is how Google captures the eBook market, with new software for its Android HoneyComb enabled tablets or a new eBook Reader.