Looks like great news for the Omnisio boys with rumours floating around this morning that Google has acquired their business for $15 Million in cash.

Omnisio, an online video play, is a Y Combinator veteran from only a few months ago . We recently ran a 2 part interview (Part1, Part 2) with co-founder Ryan Junee which went through their time at YC and their future plans.

The companies only funding was through Y-Combinator. With 3 founders they would have received $20K. YC’s usual equity position is 6% which would put their cut of the sale at approximately $900K or a 45x exit. Nice.

For the Omnisio team its an excellent result as well. Particularly considering they only started working on the project part time in early 2007 and full time in October.

The best bit? Another Aussie success story and another team of guys with experience to pass down to the rest of us.

I’ll wait for the exact details (including a formal announcement - that would probably be good too..) as well as some more info from Ryan and update you all soon.

UPDATE: The boys have posted an anouncement on the Omnisio site.