The Dublin, Ireland-based company specializes in providing intellectual licensing and high quality picture manipulation technology. Its video improvement technology has been used in movies such as "Lord of the Rings," "Spider-Man" and "King Kong," among others.
It was founded in 2004 by Chief Executive Anil Kokaram, an associate professor at Trinity College in Dublin. Kokaram and his team will be moving to California in coming months.
YouTube, which used to be known for low-grade videos uploaded by users, hopes to improve the quality of some of the videos further by using the Green Parrot technology.
"Their technology helps make videos look better while at the same time using less bandwidth and improving playback speed," said Google director of video technology, Jeremy Doig in a blog post.
YouTube has been working to expand and improve the quality of the videos for users.
Last week, Google said YouTube bought video producer Next New Networks to help smaller video producers improve the quality of the clips they put up on the popular video site.
The company is currently going through an expansion and expects to add 200 more jobs in 2011.
Google declined to disclose terms of the deal.
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