Apple buys Twitter data tracking firm Topsy Labs for estimated $200mn

Apple has reportedly acquired social media data analytics firm Topsy Labs that specialized in using data from Twitter to track customer sentiment.

The amount of the deal is undisclosed but it is estimated to be around 200 million dollars.

According to the BBC, Topsy is one of the few firms to have access to Twitter's entire data stream.

Topsy's job is to figure out who is influential on Twitter, what terms are trending, and the impact of specific Twitter campaigns.

Apple is one of the world's biggest firms in the technology sector, but its hand at social media with the Ping music sharing service failed to strike a chord with consumers.

Managing director at Frost and Sullivan, Manoj Menon said that social media accounts for a significant amount time spent on mobile devices and brands across the world are looking at ways to use the time spent by customers on social media to enhance their brands, and Apple is no different.

Menon further said that Apple may also be able to provide better user experience to customers by integration of analytical capability to its products and services.

The report said that last week, the tech giant bought Israeli firm PrimeSense, which specialises in making 3-D motion detection technology.