UPDATE: The sale is officially done. Twitter posted a tweet last night saying that they welcome TweetDeck to the flock and in a blog post said that they will continue to invest in TweetDeck.
Birds of a feather?
As we previously reported, Twitter was set to finalize the acquisition of TweetDeck in the $40 to $50 million range. According to a report by CNN, it seems Twitter has put pen to paper and closed the deal at over $40 million which will include cash as well as stock. The agreement to purchase TweetDeck was reportedly signed today between the two companies according to sources close to the deal.
The report says that if confirmed, the deal would end six months of rumours of advanced talks which has taken place between Twitter and TweetDeck. When contacted by CNN, Twitter declined to comment saying that for all those who might be curious, the company still continues not to comment on rumours. As reported earlier, Twitter seems to have upstaged advancements from UberMedia in acquiring TweetDeck since they would have a larger leverage over the micro blogging. UberMedia already have a host of Twitter related start-ups including UberTwitter and EchoFon.
Twitter has also purchased other start-ups like Tweetie and Summize. Twitter bought Tweetie in 2010 and transformed it into Twitter for iPhone while Summize was bought in 2008 and made into Twitter Search.
Published Date: May 26, 2011 09:55 am | Updated Date: May 26, 2011 09:55 am