Twitter confirmed on Friday that it’s acquired Periscope, a startup that’s working on a livestreaming app for mobile. Reports last week suggested the deal had taken place, but until Friday neither party had made it public. The terms of the transaction haven’t been divulged.

The software, which hasn’t even been released yet, makes it easy for users to view livestreams or recently recorded video segments. The interesting part will be to see how Twitter integrates the service with its own, with greater integration posing a bigger threat to apps like Meerkat, which lets Twitter users quickly and easily tweet links to livestreams. Meerkat’s popularity among Twitter users has reportedly exploded in recent weeks, so the folks at that startup will certainly be keeping a very close eye on developments.

Twitter’s Kevin Weil announced the move via the social media service. “Excited to officially welcome @periscopo to the Twitter team,” the VP of product wrote, adding, “Can’t wait for everyone to see what they’ve built.”
Periscope also put out a message, saying, “You may have heard some news: It involves a blue bird,” adding later, “You’ll be hearing more from us soon! We’re gradually expanding our beta, which you can sign up for here: periscope.tv”.. see more

source: digitaltrends