Twitter has agreed to acquire social data technology provider Gnip. The acquisition will enable Twitter to provide enhanced user data to third-parties.
Boulder-Colo.-based Gnip was founded in 2008. Gnip was Twitter's first data partner and it was the first to gain complete access to Twitter's data archive.
What the acquisition means
"Together we plan to offer more sophisticated data sets and better data enrichments, so that even more developers and businesses big and small around the world can drive innovation using the unique content that is shared on Twitter," said Jana Messerschmidt Twitter's VP of Global Business Development & Platform, in a statement.
It is unclear whether Gnip will maintain its brand once the acquisition is complete. Terms of the deal were not immediately disclosed.
Gnip has provided data services for other sites, including Facebook and WordPress. It is unclear whether the acquisition will impact those partnerships.
"We'll be able to support a broader set of use cases across a diverse set of users including brands, universities, agencies, and developers big and small," said Gnip CEO Chris Moody, in a statement. "Joining Twitter also provides us access to resources and infrastructure to scale to the next level and offer new products and solutions."
Gnip raised $3.5 million in Series B funding after its first year, but struggled in 2009, when it laid off seven of its 12 employees.
Last year, Co-Founder and CTO Jud Valeski relinquished his position as CEO to Chris Moody, who had been serving as President and COO since 2011. It is unclear what will happen to Gnip's leadership once the acquisition is complete.
Twitter and Gnip declined to provide additional comment beyond the statement.