Twitter shells out $50 million to acquire TweetDeck

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Bloggers’ first love Twitter announced on Monday that it has taken over TweetDeck in a deal that is worth 50 million dollars. One of the other tech sources also confirmed the same. “Twitter has acquired TweetDeck,” technology blog ‘TechCruch’ reported on the news appending inputs from a source with knowledge of the deal.

The transaction details would be further announced in a few days.

The 50 million dollar deal includes a merger of both cash and Twitter stock. Apparently, Twitter is one of the most popular social networking site in the world, along with Facebook which leads the foray.

For general information, TweetDeck is one of Twitter’s top third party customers using software application for internet social networking services. The enterprise was earlier reported to be in talks with UberMedia about purchase deals, which was valued less than what Twitter offered. It was set to acquire TweetDeck for $25-30 million.

The buy out info was earlier found to be making news on some of the popular news sites; however concrete information on the same only came out on Monday. With Twitter acquiring TweetDeck, it further intends to smoothen its operations both internally and outside.

Who knows if the entity is gearing up to give a stiffer competition to its other competitors, if not to Facebook, which is clearly the hardest nut to crack.

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