Twitter Sells Software Maker Fabric to Google


Google is buying one of Twitter’s assets, but not the struggling company itself.

Google has agreed to buy Fabric, which makes software for mobile apps. The companies did not disclose the financial terms.

Twitter is selling off assets as it faces growing pressure from Wall Street to reignite growth as user and revenue growth flattens. Fabric made its debut to much fanfare in 2014, but is being discarded as Twitter CEO Jack Dorsey narrows Twitter’s focus by discontinuing some initiatives, the most high profile of which was video app Vine.

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SOURCE: USA Today, Jessica Guynn