Twitter Inc Buys Magic Pony Technology for 150 Million

Twitter Inc. (NYSE:TWTR) stock climbed as high as 3.54% during the midday trading hours today, after the company announced to acquire Magic Pony Technology. The micro-blogging platform is trying to build its machine-learning capabilities, and to improve the way it delivers photos and videos across its apps. The deal's exact terms were not disclosed, but rumors suggest that a payment worth 150 million has been agreed upon. Magic Pony is a London-based company, which develops techniques using neural networks--systems that are designed to think like a human--and machine learning, which would collectively expand data for images. This technology can be used to enhance a picture or video, taken via mobile phones, and can help improve graphics on virtual and augmented reality (VR and AR) applications.