CNN: Twitter acquires TweetDeck for $40 million

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CNN: Twitter acquires TweetDeck for $40 million

2011-05-24 08:43:01 GMT+7 (ICT)

SAN FRANCISCO (BNO NEWS) -- Social networking website Twitter has acquired TweetDeck, a popular desktop application that enables users to read messages and post updates to Twitter, according to a news report on late Monday evening.

CNN reported that Twitter acquired the business for more than $40 million in a mix of cash and stock. If confirmed, the deal would end nearly 6 months of rumors about advanced talks between the two companies.

In February, the Financial Times (FT) newspaper cited sources that company UberMedia - which is formerly known as TweetUp - had offered to pay $30 million for TweetDeck. And in mid-April, the Wall Street Journal reported that Twitter was offering to buy TweetDeck for around $50 million.

Since its release in 2008, more than 20 million people have downloaded TweetDeck, which is free and most recently began to support other social networks such as Facebook, MySpace and LinkedIn. But the application remains most popular with users of Twitter.

Neither TweetDeck nor Twitter have commented on the reports. "For all those who might be curious, we continue to not comment on rumors," a Twitter spokesperson said in response to CNN's report.

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