Widevine's platform is used by studios that create TV shows and movies, cable systems and channels that broadcast them online and on TV, as well as the hardware manufacturers that let you watch that content on a variety of devices. The company also sells an extensive suite of video optimization tools while its technology protects both downloaded content and streams from unauthorized copying. With its partnerships across the entire video ecosystem, Widevine has made on demand services more secure for media companies and more available to consumers.
Google doesn't say how it will integrate Widevine's technology, but it's quite likely that Google TV and/or YouTube will end up benefiting (the latter is explicitly mentioned in Google's announcement). In either case, the company says it is committed to maintaining Widevine's agreements and will provide quality support for their existing and future clients.
"By working with Google, we are even further committed to the consumer Internet video experience and to the needs of content owners," Brian Baker, Widevine's CEO, said in a statement. "Widevine will continue to supply the industry with leading video optimization and content protection solutions. We are excited to have access to Google's vast resources as we continue to improve our products, support our customers, and meet the future needs of consumers, content owners, service providers and device manufacturers everywhere."