Twitpic formally announced it will shut down for good by the end of this month.

"It's with a heavy heart to announce again that Twitpic will be shutting down on October 25," the Image hosting company said in a statement on Thursday.

Early in September, Twitpic made an "initial shutdown announcement" due to a legal dispute with social networking site Twitter. Two weeks later, however, Twitpic tweeted they'd been acquired and will remain in the business.

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But now, Twitpic founder Noah Everett confirmed their image-sharing services will cease to operate because they couldn't reach agreeable terms with the acquiring company.

Twitpic was almost certain "we had found a new home for Twitpic" but agreeable terms on the acquisition could not be met, Everett said.

Everett did n't identify the would-be acquirer. Twitpic also declined to comment further on the issue.

According to Twitpic's statement, users will have until October 25 to export their data and photos from their account page.

Among the photo-sharing services, Twitpic is one of the pioneers that allowed users to integrate photos and videos into their Twitter feeds.

But after Twitter decided to restrict its API to third-party partners and allowed photos to be directly uploaded in its site, Twitpic and similar services became less relevant.

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