Watch out Meerkat

Twitter has reportedly acquired livestreaming app Periscope

It looks like Twitter bought livestreaming app Periscope weeks ago, before competitor Meerkat went viral. Two outlets, Business Insider and Re/code, are reporting the news from their respective anonymous sources, but there’s no word on how much the deal closed for or confirmation from Twitter (I’ll update if I hear back). Periscope is still in private beta, but was rumored to have the same livestreaming capabilities that made Meerkat spread virally.