Twitter Buys TweetDeck For $50 Million: Report

In a report appearing on TechCrunch.com, Twitter has closed the acquisition of TweetDeck for a reported sum of $50 million. Last heard, they were in 'advanced talks' with the social media app company.

Tuesday, May 03, 2011:  According to a report published in American tech blog TechCrunch, Twitter has purchased popular social media dashboard TweetDeck. Last reported by the Wall Street Journal, the 15-member company was in advanced talks with Twitter over an acquisition bid. Tweetdeck, an Adobe Air application lets you get feeds from your various social media accounts in one place. While it runs in the background, it keeps updating in real-time all the latest that is happening with your online friends. In recent times, it has grown in influence with it being available for the iPhone and Android platforms also. A previous report from TechCrunch also says that Twitter bought the company to keep away UberMedia from having too many Twitter-related clients in its portfolio. UberMedia has already bought UberTwitter, EchoFon and other Twitter-related startups. Having TweetDeck too in its portfolio would let it have too much leverage over Twitter. Sensing this, Twitter made a counter offer to TweetDeck and secured it from getting gobbled by UberMedia. An official announcement is expected in two days' time.