Twitter Acquires Summize

Twitter has announced that it has acquired Summize, an interactive search tool and simultaneously launched its own search engine The new search tool has the exact same look, feel, and functionality of Summize, but with Twitter branding. The deal is said to be worth $15M stock and cash and depending upon how long the team stays at Twitter they could benefit from Twitter eventually getting acquired too.

The five Summize employees joining Twitter are all engineers, adding to the twelve engineers that currently work at Twitter. Summize CTO Greg Pass will become Twitter’s top tech guy as Director of Engineering and Ops.

It should be noted that Summize was not the first mover in the Twitter search space and was preceded by projects like Tweetscan. But eventually they did it best and offered the most commercially viable product.

For Twitter, which has gone through a rough year, this seems like an act of recovery. And if this is how they keep going, with reducing down times and features that make the product more useful, there might still be some hope. Still, a bunch of top Twitter users have already started to make their way to FriendFeed, which seems like it can only grow.

Source: Mashable

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