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Rafe Needleman just broke the news from the Web 2.0 Expo about Eric Schmidt announcing the upcoming Google presentation service. The official Google blog just reacted and announced the acquisition of Tonic Systems which will help in the development of the presentation application, due to be released this summer. There is no screenshot yet of Google Presentation App, and Google was very quick to change Tonic Systems’s website, they dropped everything and kept only an FAQ on the home page, so be patient !
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We’ve already freed those of you working in teams from the burdens of version control and email attachment overload when going back and forth on word processing and spreadsheets. It just made sense to add presentations to the mix; after all, when you create slides, you’re almost always going to share them. Now students, writers, teachers, organizers, and, well, just about everyone who uses a computer can look forward to having real-time, web-based collaboration across even more common business document formats.

Update : Just added a screenshot to Tonic Point application, and you can find more over their website in addition to a flash demo of their editor in action.