FeedBurner allows bloggers and news sites to set up RSS feeds, which readers can subscribe to via browsers or newsreader applications.
FeedBurner will continue to operate as a separate service while the two companies figure out integration plans.
Both companies hope that the acquisition will eventually integrate Google's ad-serving and analytic services with the more than 430,000 publisher feeds currently hosted by Feedburner.
FeedBurner co-founder and chief executive Dick Costolo explained in a blog posting that the move could have a positive effect on Feedburner's user base.
"The vision is straightforward: publishers who successfully promote distribution and measure consumption will be in a position to derive more value (aka make more money, gain more influence, etc) from media distribution," he said.
Costolo also cited Google's vast manpower and cash resources as a benefit, saying that they will help further innovation for Feedburner.
"We like our chances. We are confident that we are going to be a part of the company that can best deliver the most comprehensive suite of services to publishers," he wrote.
Google said that the purchase would help to expand the reach of its advertising programme, which accounts for nearly all of the company's revenues.
"We are constantly looking for ways to identify and offer new tools for content creators and website publishers," wrote Susan Wojcicki, Google's vice president of product management, on the Google blog.
"Likewise, we constantly aim to give AdWords advertisers broader distribution to an even wider audience of users.
"FeedBurner delivers feeds to millions of users around the world each day and offers unique and useful tools for publishers to analyse, optimise, and monetise their content."
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