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Twitter to buy Tweetdeck for 40-50 million
Reports state that Twitter has acquired Tweetdeck for the 40 to 50 million dollar range. Neither company has made an official statement but sources close to the deal have stated it is complete. The deal includes both cash and Twitter stock in what would be a defensive move for Twitter. The idea is that keep UberMedia, who tried to acquire Tweetdeck for around 30 million but ran out of time and was then out bid by Twitter. It turns out that deal was in fact done but they couldn’t make out the terms and UberMedia’s 30 day exclusive ran out, which gave Twitter the chance to make an offer and it did. Most of the reason that Twitter made this buy is to keep UberMedia from owning around 20% of Twitters network. This also may have something to do with the popularity of Tweetdeck on Shoutitout as it was, at the end of the last quarter, the 3rd most popular 3rd party application on Shoutitout who has become Twitters biggest competitor as of recently. Twitter for iPhone officially announced it will not support Shoutitiout anymore in an ugly dispute between the companies and now Tweetdeck may remove support as well, which would cause Shoutitout to take action of some kind against Twitter.