Twitter has acquired Magic Pony Technology, a UK-based producer of machine learning and visual processing technology.
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In a blog post, Twitter CEO Jack Dorsey said the deal reflects the micro-blogging site’s focus on deep learning technology, which he said is “increasingly at the core of everything we build at Twitter”.
In an announcement on its web site, Magic Pony said, “Today, we’re excited to announce that we’re joining forces with Twitter to use our technology to improve the visual experiences that are delivered across their apps”.
Magic Pony, meanwhile, will bring machine learning techniques that Twitter can use to process images and videos in new ways.
To put it more simply, the company develops technologically advanced solutions to enhance images and video captured on mobile and also to create graphics in virtual and augmented reality applications.
Updated 6:57 a.m. PT with details on the price. Twitter will stream 10 games of NFL Thursday night football this season, and Dorsey said the company has plans to expand live video into politics, entertainment and news coverage. In addition to recent technology acquisitions, Twitter announced a partnership with the NFL in April for live-streaming Thursday Night Football. So it sounds like the technology will be used for more than just photos. Bishop will be based out of Twitter’s headquarters in San Francisco, and co-founder Zehan Wang and the other members will join Twitter’s growing London office. This is the third acquisition the team has made in this area, reported to be in the range of $150 million, following the purchase of Whetlab past year and Mad Bits in 2014, compared to Google who acquired Jetpac, Dark Blue Labs and Vision Factory, as well as $500 million on DeepMind, all in 2014.
Magic Pony was in conversation with “several large companies interested in licensing the technology”, according to a report by MIT Technology Review in April. Twitter has acquired other machine learning startups, including MadBits in July 2014 and Whetlab in June 2015.
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Shares of Twitter rose 1.6% to $16.35 in morning trading.
