It looks as if Twitter is gearing up to bring a livestreaming option to its service after the company confirmed it’s bought startup Periscope. The terms of the deal have not been disclosed.

Periscope doesn’t actually have a product on the market yet, but is known to be creating an app for livestreaming video from a smartphone or tablet. Twitter’s purchase was confirmed to Business Insider on Monday, and follows recent reports that the pair were in talks in relation to such a deal.

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It’s not currently known if Twitter will leave Periscope as a standalone app, as it did with Vine, or incorporate it into the microblogging app.

Twitter is constantly looking for ways to bring more types of media to its service, moving it away from its text-heavy origins. It recently built a video-recording option directly into its app, allowing users to easily create and embed clips of up to 30 seconds into their Twitter feed.

A livestreaming option could certainly be useful for news channels covering breaking news stories, and may also appeal to celebrities keen to connect more closely with fans via special one-off live broadcasts.

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San Francisco-based Periscope currently comprises eight employees and right now is advertising for new people to join its team, including an iOS engineer and video systems engineer.

The news of Twitter’s latest acquisition comes as another app offering similar functionality to Periscope gains growing attention. Meerkat, which lets users livestream from an iOS device while automatically posting a link to their Twitter feed, has gone viral in the past week following widespread media coverage.