Photbucket.com, a website providing photo and video sharing service has been acquired by Myspace.

Photobucket was founded in 2003 by Alex Welch and Darren Crystal and its popularity increased heavily when Myspace users started using the images, videos uploaded at photobucket in their Myspace profiles.

Earlier Myspace accused Photobucket for violating their Terms of Services saying that users at Photobucked were adding advertisements in the image slideshows which were ultimately posted at Myspace.

But now all seems to be well and the deal has been confirmed and is said that its $250 Million in cash.