Twitter has officially announced its acquisition of the livestreaming app Periscope.
According to TechCrunch, several sources said it will be launched as a separate app from Twitter with the ability to watch live and previously broadcasted mobile video streams.
Both Twitter and Periscope announced the news on their respective Twitter accounts.
Periscope allows public and private broadcasts. Users can send out a link to their stream on Twitter and have it show up on Periscope’s home screen, or they can privately invite people to watch.
Currently, Periscope is still in beta and has not officially launched. The app will serve as competition to live video app Meerkat.
With the booming smartphone market and the reach of Android and iOS platforms, there is an upsurge in this social media and smartphone app mergers and acquisitions.
Apparently, Facebook and Twitter are said to be more prominent players in this race where Facebook has already acquired Instagram and more recently and popularly WhatsApp. While, Twitter acquired Vine and which almost got into a deal to acquire SoundCloud.
