Twitter Inc (TWTR) Acquires Personal Productivity Platform Tenxer
Twitter Inc (NYSE:TWTR) has acquired the San Francisco based startup tenXer. The micro blogging company seeks to improve the performance of their engineers by owning the company that has boasted its expertise in the area.
Jeff Ma, founder and CEO of tenXer, was famous as blackjack guru of MIT. He used his skills of data, analytics and self improvement to create a platform for engineers that helps them manage their tasks more easily. The platform uses the data already entered by engineers on various work environments like GitHub, Pivotal, JIRA, etc.
This data is used to provide key statistics and insights that help managers to lead their teams more effectively. The managers can easily know the tasks their team members are working at without having needed to sign in on multiple platforms. Tenxer collects all the data and presents relevant information.
The acquisition was not confirmed by Twitter Inc (NYSE:TWTR) officials. However, Jeff Ma, CEO, Tenxer, confirmed the news. He sent an email to the users announcing that his team will be joining Twitter Inc (NYSE:TWTR). The operations will continue through its existing office. By the end of this week, tenXer will discontinue its services to its existing customers. The refunds will be made to the customers who have paid in advance for the service.
Twitter Inc. (NYSE:TWTR) will use the experience this startup has acquired over the past three years to the problems of its world-class engineering pool. The company has long been making efforts to develop its human resource while constantly seeking solutions that will help the company in its quest to provide better products. Twitter has earlier acquired startups like Gnip, which used to analyze and sell twitter data to companies. Niche and Crashlytics are among the recent starups bought by the company.
Sources speculate that the deal must be under $50 million, though the financial aspects are not yet confirmed. However, it is confirmed that Twitter Inc. (NYSE:TWTR) has added another name in its series of acquired startups.
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