Twitter Inc (NYSE:TWTR) and SnappyTV announced today on their blogs that they’re joining forces. Twitter said it’s continuing its focus on video because management believes following video and commenting on it in real time is becoming increasingly important.
Kevin Weil, Twitter Inc (NYSE:TWTR) Vice President of Product for Revenue, announced the acquisition on his Twitter feed:
— Kevin Weil (@kevinweil) June 19, 2014
Twitter invests further in video
According to Twitter Inc (NYSE:TWTR)’s blog, their acquisition of SnappyTV will allow them to “provide tools that make it easy for TV broadcasters, businesses, and event producers to share high-quality videos.” The micro-blogging company said many brands and its media partners already use SnappyTV’s platform. SnappyTV offers video editing, distribution and live clipping.
Twitter Inc (NYSE:TWTR) said SnappyTV fits in well with its Amplify platform and that they’ve already been working together and with the world’s largest content partners. The company said the goal is to inject even more video content into the real-time conversations that take place on Twitter, noting that many users watch videos directly from tweets on their timeline.
Twitter to keep supporting other video platforms
Twitter Inc (NYSE:TWTR) said it will work to keep integrating SnappyTV more tightly in with its products. However, it will not stop supporting other platforms after the acquisition. The company said it wants to maintains partners’ ability to post videos to those other platforms, enabling publishers to more quickly share videos in real time.
On its blog, SnappyTV also said it will remain committed to keeping its video platform open across a variety of other platforms. The company said that by joining Twitter Inc (NYSE:TWTR), they will be able to “provide an even better product and bring the platform to more content owners and event organizers throughout the world.”
The two companies did not disclose the terms of the deal. Shares of Twitter Inc (NYSE:TWTR) were little touched by the acquisition, edging upward by less than 1%