SkyDox, the online document sharing company, has bought its larger US rival  Workshare and raised £20m from venture capital groups in order to create a stronger UK challenger in the market for online work collaboration.

Anthony Foy, chief executive of Brick Lane-based SkyDox, said the combination of the two companies, which creates an entity with annual revenues of around £20m,  would allow them to better challenge rivals such as Box and Dropbox in a fast-growing market. Read more

OK, so Mike Arrington went a bit over the top yesterday in declaring Google Wave “one of the most ambitious and exciting products the tech world has seen in a long while.”

And you have to bear in mind, as Rob Koplowitz at Forrester warns, that any time Google claims to have “reinvented” something it gets the rest of us talking, even if it’s often hard to assess the eventual impact of projects like this (at least it balanced Microsoft’s claim the same day of having reinvented search.)

Still, there was something charmingly excessive about the idea of sending a team of hot-shot developers to Australia for a couple of years to work on a secret project, then jetting them to San Francisco for an 80-minute demo in front of 4,000 eager developers (YouTube video here.) Lars Rasmussen’s rock-star status as creator of Google Maps had already guaranteed him an easy ride in front of this crowd.

In reality, like a lot of these things, Wave is both more and less than it seems. Read more