In a strong push to improve their data analytics capabilities, the social media giant Twitter Inc. has announced it has acquired the social data provider Gnip. The data provider specializes in helping companies, PR agencies and other data specialists access tweets going all the way back to Twitter’s birth in 2006. In fact, Twitter itself has been using Gnip’s API aggregation technology for the past four years.
Twitter did not disclose the price it paid for Gnip, but the acquisition proved to be uninteresting after late-morning trading on the New York Stock Exchange. Shares were relatively unchanged at $41.02.
Despite the lack of excitement, however, the acquisition should be good for Twitter. Basic acquisitions like these are part of the overall strategy to facilitate the continuing growth of a company. By properly managing and advising CEOs and management teams, Twitter should have little trouble incorporating Gnip’s capabilities into its overall strategy. Ultimately, the deal will likely promote business development and effectively move the company forward in its efforts for improved data analytics.