Reports that Google might be interested in purchasing Twitter for more than $250m might not be surprising but the effects of the acquisition could be.

The fallout from such a deal could range from Google employing the site’s real-time search technology to make its search engine index new web pages faster, to creating a Frankenstein style micro-blogging site, by merging Jaiku and Twitter to potentially form a social networking monster… Jaiktwoogle!

Google acquired Jaiku in 2007 and has been criticised ever since for failing to popularise the micro-blogging site. Following the acquisition, the search giant promptly placed the site back into beta mode, stopped new users from signing up to the site and watched, presumably open-mouthed, as millions of users chose to sign up to Twitter instead. Opting to do something similar with Twitter could prove to be disastrous, and would certainly put a dent in the site’s impressive growth of 3000% in the last year.

Plundering Twitter’s real-time search capabilities looks like a much more likely outcome, as Google could use the search technology to bring real-time search to the rest of the web. This would make it possible for users to find web pages as soon as they have been published. This could seriously help companies, as marketers could react to news and events much faster by publishing content on blogs and websites, which would then be indexed by Google almost instantly. A news-jacker’s dream!