Gnip partnered with Twitter four years ago to provide access to public Twitter data; this acquisition will allow Twitter to offer more data to Gnip’s customer base.

Gnip offers access to historical Twitter data, as well as APIs that provide data from other social networks. According to the announcement on Gnip’s website, the acquisition will allow the company to go “much faster and much deeper.”

“This acquisition signals clear recognition that investments in social data are healthier than ever,” the statement on Gnip’s website reads. “Our customers can continue to build and innovate on one of the world’s largest and most trusted providers of social data and the foundation for innovation is now even stronger.”

According to tech news site techcrunch, the acquisition will give Twitter greater control over the monetisation of its own content, and will also provide the company with more alternatives to advertising with regard to revenue generation.