Twitter (NYSE: TWTR) Thursday announced on its blog that it will acquire SnappyTV.
"As we continue to invest in video, it's important for us to provide tools that make it easy for TV broadcasters, businesses, and event producers to share high-quality videos. To that end, we've agreed to acquire SnappyTV," wrote Baljeet Singh.
Singh noted that SnappyTV is already widely used by brands and Twitter's media partners to share video clips on Twitter. This has been part of the company's goal to "inject the best video content into Twitter's real-time conversation."
Speaking on the company's plans moving forward, Singh wrote, "While we continue to invest in SnappyTV's product and integrate it more tightly with Twitter, we also plan to maintain our partners' ability to post high-quality videos to other platforms."
The street doesn't seem to be reacting to this news as Twitter shares are hanging steady early in the session.
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