Twitter quietly scoops up live-video streaming startup Periscope

Periscope had not even taken its live video streaming app out of a private Beta when it started negotiating with Twitter. As it happened, one of the beta testers was a Twitter exec who knew one of Periscope’s co-founders.
Periscope is ostensibly still a work in progress, but whatever it brings to the table, the acquisition is not unlike Twitter’s buyout of Vine back in 2012, which was also in a closed Beta at the time. Given Periscope’s focus of streaming live video like other startups, Meerkat or YouNow, it stands to reason that we will see a close relationship to Twitter’s features as the application nears completion.
source: The Wall Street Journal