LiveUniverse, the social network company run by Myspace creator Brad Greenspan, has purchased Web 2.0 site Pageflakes for an undisclosed sum.

PageFlakes allows users to create personalised homepages using a range of plug-in 'widget' applications. The site will be now be used to offer customised portals for LiveVideo, a combined social networking and video platform.

Full terms of the agreement have not been revealed, but the purchase will be conducted through a combination of cash, shares and several million dollars worth of online promotion, according to LiveUniverse.

"Pageflakes offers LiveVideo and other LiveUniverse sites the ability to blaze new trails in the industry and create even greater opportunities for both consumers and advertisers," said Greenspan, chief executive of LiveUniverse.