Google strengthens Wave's collaborative editing power by acquiring AppJet Inc.
I doubt this is a competitive buy-out. Rather, it's entirely likely that Google wants to integrate EtherPad's technology into Wave.
One of the strongest features of Google Wave is its real-time nature. You can still treat it as 'turn-based' if you close the window, but if participants of a Wave happen to be watching at the same time, they see every keystroke in real-time. It's the same with many Gadgets and Robots too -- if someone draws on the digital whiteboard or rolls the digital dice, the results are shown in real-time.
The jury's still out on what the Google Wave Preview will result in -- only time will tell! In the mean time though, if you're fortunate enough to have received a Wave invite, why not have a look at our lists of neat Robots and Gadgets and give one of them a go?
[via EtherPad Blog]