Alphabet Inc., which owns Google, has purchased Fabric platform. Previously it belonged to Twitter. It specializes in developing software for mobile applications. Google also acquires Twitter’s Crashlytics, which aims to search software bugs. Companies don’t disclose financial terms of transaction.
Twitter is interested in selling one of the assets for further growth. Google wants to attract mobile developers from Fabric for its cloud service Firebase, which was absorbed in 2014. New employees will work on Firebase, creating apps and tracking all necessary statistics. So Google will multiply revenues and be able to compete with Facebook.
The sale of Fabric is another signal of Twitter’s low growth in amount of users and profits. In 2016 it was not possible to find buyer who would acquire the whole company, so it was decided to gradually get rid of non-core assets. In mid-January 2017 Twitter announced shutdown of video service Vine.