Boston’s Spindle sold to Twitter
For the third time this year, social networking giant Twitter Inc. has acquired a Boston- area technology start-up.
The San Francisco company confirmed Wednesday that it bought Spindle Labs Inc., which was founded in 2010 by three former employees of Microsoft Corp.’s New England Research and Development Center in Cambridge. Spindle launched an app last year to let smartphone users discover social media updates from nearby stores, restaurants, bars, or museums using their phone’s location technology.
Twitter would not disclose terms of the deal. Spindle had raised $2.3 million from venture capital firms such as Waltham’s Polaris Partners.
The Boston company plans to relocate to San Francisco as part of the deal and will phase out its app that has been available in several major cities including Boston, Chicago, and Los Angeles. According to its website, Spindle has nine employees based in the Innovation District in Boston.