Most are familiar with
According to a Geek.com report that's being passed around, Google is building Babble to integrate communication products like: Google Talk, Google+ Hangouts, Google Voice, etc.
It's not hard to imagine that Babble would compete with Apple's iMessage and Blackberry's BBM service as a part of the Android mobile operating system.
Besides revamping chat, the real take away is that Google is in the process of merging its entire line of products and services so that it can offer a more centralized user experience.
Last week, Google discontinued it's popular RSS reader service, and there was recent talk of a new service called Google Keep, which is similar to note-taking service Evernote.
If Babble is real, we'll probably hear more about it at the Google I/O developers conference in May.