Twitter on the acquisition trail after stock flotation
Following its stock market flotation, social media giant Twitter is planning to expand and add commercial value to its offering by acquiring existing companies, claims one report.
Twitter is seeking to shore up its share price
The Australian has reported that the social media platform is targeting a series of mergers and acquisitions in a bid to keep its share value increasing.
"Twitter has a long M&A shopping list, with dozens of target private companies," said Sam Hamadeh, of PrivCo.
He said the acquisition list includes four undisclosed British companies. Other targets reportedly include Songkick, Box Telematics, Boss Alien and CitySocialising.
"These companies would sell for Twitter's acquisition price sweet spot of between $US20 million and $US150m," he said.
"Most importantly, they suit Twitter perfectly in advancing its determination to own the 'mobile real-time conversation' space and allow it to offer complementary services to its growing users and to marketers via mobile adverts."
Twitter previously acquired Tweetdeck and MPub, prior to its flotation.
At the time of writing, Twitter shares are trading at $41.65, down a little over 7 percent.
Stock Market image via Shutterstock