Twitter buys machine-learning firm Magic Pony to increase image material

© Reuters. A 3D-printed logo for Twitter is seen in this image illustration made in Zenica

(Reuters) – Twitter Inc (N:-RRB- stated on Monday it obtained London-based Magic Pony Innovation, a machine-learning start-up that specializes in dealing with images, to deliver better video and image material. Twitter did not divulge the financial terms of the offer. Technology news site TechCrunch mentioned sources stating the deal was worth $150 million. (http://tcrn.ch/28IW80e) “Magic Pony’s technology … will be utilized to enhance our strength in live and video (images) and opens a whole lot of interesting innovative possibilities for Twitter,” Twitter President Jack Dorsey composed in an article. Magic Pony Innovation, which has been around for 18 months, will join Cortex, Twitter’s group of engineers, data researchers, and artificial intelligence scientists, Twitter stated. The acquisition is Twitter’s 3rd in the machine-learning area in 3 years. It got Whetlab in 2014 and Madbits in 2015. Twitter shares were up 2.2 percent at $16.46 in late afternoon trading on the New York Stock Exchange. Disclaimer: Fusion Media wish to remind you that the information included in this website is not always real-time nor precise. All CFDs (stocks, indexes, futures) and Forex prices are not offered by exchanges however rather by market makers, therefore prices may not be accurate and might vary from the real market price, implying prices are indicative and not proper for trading functions. For that reason Blend Media does n`t bear any obligation for any trading losses you might incur as an outcome of using this data. Fusion Media or anybody included with Blend Media will decline any liability for loss or damage as a result of dependence on the details consisting of information, quotes, charts and buy/sell signals included within this website. Please be completely notified relating to the dangers and expenses associated with trading the monetary markets, it is among the riskiest financial investment kinds possible.

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