Video host YouTube announced that it has acquired Web video production company Next New Networks.

YouTube said the newly bought production team will be on the forefront of testing new YouTube technologies, as well as acting as an incubator for up and coming video talent.

"Within YouTube, Next New Networks will be a laboratory for experimentation and innovation with the team working in a hands on way with a wide variety of content partners and emerging talent to help them succeed on YouTube," Tom Pickett, YouTube's director of Global Content Operations, wrote on the company’s blog, according to cnet.com.

Along with the acquisition news, YouTube launches the new "YouTube Next" program, which Google described as "a new team tasked with super-charging creator development and accelerating partner growth and success."