Back in 2007 Google acquired a startup called GrandCentral for $95 million (USD) and proceeded to do absolutely nothing with it. The service was invite only, but in early 2008 that feature was disabled. In the wake of a number of other Google services being killed off or having their development ceased (i.e. Google Notebook) many feared that Google would kill GrandCentral.

Thankfully Google has decided to keep GrandCentral and announced late yesterday that the service is being rebranded as Google Voice (beta). Current GrandCentral beta testers will be receiving emails over the next few days with instructions on how to upgrade to Google Voice. Once upgraded, Google Voice will be integrated with your Google account and Google Address Book.

In addition to the Google integration, they are also (finally) adding some new features to the service. A few of the new features include:

• Voicemail transcription - Have your voice mail messages automatically transcribed and sent to your email.
• SMS support - Someone sends an SMS message to your Voice account, and it is forwarded on to your phone.
• Conference calling
• GOOG-411 integration
• Low cost international calling

According to the Google Voice Help, the service will continue to offer all of the GrandCenrtal features while remaining free. However, I wouldn't be surprised if the service were to add "premium features" in the future.