Twitter has acquired TweetDeck according to sources from TechCrunch. This deal was set to be finalized in the $40 – $50 million range. This purchase will also include cash as well as Twitter stock. Official word on the transaction will be announced within the next few days.
TweetDeck to be officially part of Twitter
TweetDeck is an application that sorts Twitter data into a multi-column interface that is preferred by Twitter users for business and marketing purposes.
It was reported that UberMedia was set to acquire TweetDeck for $25 - $30 million. The deal was all but finalized when Twitter came in with a more substantial offer. Officials at Twitter declined to comment on the takeover stating that they do not comment on rumours or provide off the record background on rumours.
The article also claims that this was a defensive deal on the part of Twitter and that they could not allow UberMedia to have such a large market share in this sphere. UberMedia has already acquired UberTwitter, EchoFon and other related Twitter start-ups.
The sources of TechCrunch believe that had UberMedia acquired TweetDeck they would have much more leverage over Twitter. Hence, Twitter went quickly with the acquisition of TweetDeck and supposedly succeeded well.
Published Date: May 03, 2011 10:31 am | Updated Date: May 03, 2011 10:31 am