Its not like Google aquired a whole lot of companies wholly and changed them or shut them down.

Yes there are a few major ones (see list)

Picasa - I dont think there are are any privacy concerns with this product.
Keyhole (Google earth now)
Dodgeball - was shut down
Android - its is big product of Google now ... I still refuse to believe any privacy issues in Android - its just that Google decided to integate its own products in its own mobile OS (many companies do that).
Writely -
Youtube -
GrandCentral

and a few other smaller ones in between.

How many of these do you think it changed to warrant a privacy concern to which there are no other alternatives ?