It was developed by Leonard Bocour and his nephew and partner, Sam Golden, and called Bocours "Aquatec".
A few of the New York School of painters were using what was then called "latex" house paint because it was cheap and pourable. Jackson Pollock was said to have bought cans of unlabeled house paint on Canal St, and paint doesn't come much cheaper than that. (I'm pretty sure, however, that he used a thinned oil based enamel.)
(There has never been latex in latex paint.)
One of the first painters to pour acrylic paint onto unprimed canvas, then proceed to manipulate the flow and saturation, was Helen Frankenthaler. She had been a water colorist, so staining the canvas suited her.
This modus operandi became the trademark style of Morris Louis and Kenneth Noland who made no secret of being influenced by her.
Helen Frankenthaler 1958
Morris Louis 1960 This canvas measures 8 ft x 14 ft!
Courtesy of MOMA
The fast drying and brilliant colors of acrylics changed the way some artists worked, such as the ability to do hard-edge and color field painting as well as pouring and dripping. Which was a spinoff of the early surrealist movement.
A plus was the fact that acrylic resin serves as its own sealer/primer, and won't eventually rot the unprimed canvas as oil base paint does.
It took some getting used to, and still does if you've always worked in another medium. Bocours' acrylic paint was thick, and came in jars.
I was initially frustrated by the gloss and viscosity, but happy that it was much harder to end up with a mud color, which was the tendency to mix a lot of very expensive colors on the canvas, and end up with blech.
I learned to thin the paint with water and leave the top off for several days, with an occasional stir.
I'm not sure why that should cut the gloss, but it did.
Happily for me, Sam Golden retired from Bocour Paints, then opened his own line of fluid acylics, then added matte fluids and a host of other goodies.