TechCrunch is reporting that Google is buying RSS feed management company Feedburner for about $100 million. The deal is all cash and mostly upfront, although the founders will be locked in for a couple of years.

“The information we have is that the deal is now under a binding term sheet and will close in 2-3 weeks, and there is nothing that can really derail it at this point,” writes TechCrunch’s Mike Arrington.

Feedburner has become a popular tool for bloggers, podcasters and video podcasters because of its ability to translate one feed into many different types of feeds and because it offers a wide range of statistics.

The deal promises to create synergies between Feedburner’s feed management features and Google’s advertising technologies.

Not everybody is taken with the deal, though. “Adam” comments: “They should just rename the Internet to Google.”