So the rumor is, after Mark Glaser tweeted about a tip he got. The price, he says, is around $500 million to $700 million. This comes after Brightcove CEO Jeremy Allaire has been on a PR tour, meeting journalists (including our own Tameka Kee last week), telling us that the company is profitable, and didn’t want to be bought. According to one estimate, the company is on track to earn about $80 million this year.

Brightcove has raised about $91 million in funding till date from big names like IAC (NSDQ: IACI) and others. About two years ago it moved completely to the enterprise space, and now powers video services for a bunch of media companies, the likes of which Google’s YouTube would be happy to have as customers, hence the fit; though Google-YouTube could easily replicate the technology (and better pricing) if they wanted to. Update: Dan Rayburn agrees.

Recently Google (NSDQ: GOOG) announced it was buying video compression company On2 for $106.5 million; that’s still in process. Asked to comment on it, Brightcove PR had the usual comment: “no comment.” Updated: Rayburn says the rumor is in fact not true, citing a source.