Twitter confirmed that it has acquired Tenxer, a San Francisco-based collaboration platform for engineers and developers. The value of the deal is placed under $50 million, according to TechCrunch.
Users of the TenXer service were sent a message that announced the acquisition and the closure of the service. The service will be closed to the public by the end of the week. Current users that have already paid will receive a refund.
"Today it is with much excitement that I announce that the tenXer team will be joining Twitter and continuing tenXer's mission within the walls of its San Francisco office," CEO Jeff Ma also wrote in the message. "We are excited about the idea of taking what we've learned over the last three years and applying it to a world-class engineering organization."
Twitter has been trying to find way to better optimize their engineer's workflow and technical issues. The company plans to use TenXer's technology to improve work productivity and help product managers make more efffective decisions through increased transparency.
Founded in 2011, TenXer is a collaboration platform which makes managing engineering projects much easier by tracking team progress. TenXer is capable of interfacing with existing data from tools like Pivotal, JIRA OnDemand, and GitHub. It also provides several metrics and trend graphs, as well as ability to run team meetings. TenXer has previously raised over $5 million in venture funding from investors that include Founders Fund, Google Ventures, Khosla Ventures, Radar Ventures, True Ventures, the Social + Capital Partnership, and the Webb Investment Network.
CEO and Co-founder Jeff Ma, a serial entrepreneur who specializes in predictive analytics, will join Twitter's product team.
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