These guys are going to have some hard decisions to make in the next few months. This has such incredible potential I'd be really sad to see it get bought and languish as a side-feature at Google. Run as a business, rather than a free technology project liable to be side-lined on whatever whim, and really developed for the next 5 years, think about what it could be! I mean, just look at what it is today on day one! T…
I doubt they will be bought by Google, Apple is probably already writing cheques. Apple has been getting the pants beat off them by Google in mobile translation for awhile now. If there is a patent behind this then Apple will grab this for their stable just to keep it off the Android platform. It would be a huge 'one-up' for them. (which makes me sad as I strongly prefer Android devices) In time you'll see it license…
You would ideally want the OCR and text replacement together with Google’s translation algorithms, which, besides requiring a network connection at the moment, would also introduce way too much lag that would kill the experience.
(Word-for-word translation is a perfect compromise in the meantime.)