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Wednesday, May 25, 2011

Twitter Buys TweetDeck for $40M

Image representing Twitter as depicted in Crun...Image via CrunchBase
Twitter has finalized a deal to buy TweetDeck, CNN reported this morning.The microblogging site agreed to buy the popular Twitter client for more than $ 40 million in cash and stock, according to CNN.com.
TweetDeck Twitter or did not respond to a request for comment, but the people of PR Twitter Twitter Monday night, "For those who may be curious, we do not comment on rumors."
There was much speculation in recent months about the future of TweetDeck and that might vie to buy it.

Just last month, the Wall Street Journal reported that Twitter was in advanced talks to acquire TweetDeck. Another company, UberMedia, had also reportedly been working out a deal to buy TweetDeck.

A nascent rivalry between Twitter and UberMedia, which owns a number of popular applications,seems to be heating up.

The two companies have faced in February when ÜberMedia Twitter has suspended three major third-party mobile applications - and UberCurrents, UberSocial and Twidroyd - for the alleged violation of its policy of use. Twitter restored access to applications a day later.

Source :PCworld