Twitter Buys TweetDeck for $40 Million

Twitter Buys TweetDeck for $40 Million

According to a CNN report, Twitter has agreed to acquire TweetDeck, a Twitter desktop client preferred many of the site's most active users, for $40 million in cash and stock. The deal hasn't yet been officially annouced, but a purchase agreement was signed on Tuesday, according to the report which cited sources close to the deal.

Twitter has declined to comment on the report.

In April, The Wall Street Journal reported that Twitter was in "advanced talks" to acquire TweetDeck for $50 million, which is significantly more than the final deal was worth. 

Twitter has previously acquired other services to add them to their own offerings. It purchased Tweetie in 2010 and turned it into Twitter for iPhone, and purchased Summize in 2008 and turned that into Twitter search.

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