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Twitter Said To Acquire Periscope App for Live Video Streaming

Twitter Inc. has acquired Periscope, an application for live streaming of video, according to a person familiar with the matter.

The company has owned Periscope for more than a month, said the person, who declined to disclose a price for the purchase because the deal hasn’t been announced. Periscope, which names seven employees on its website and hasn’t yet introduced a product, advertises that users will be able to “explore the world through someone else’s eyes.”