Mergers and Acquistions News
Categories: Software
May 4th 2011, 15:39PM
Micro-blogging site Twitter has made a bid to acquire social networking software company TweetDeck for around $50 million (£30.2 million.)
Reuters reported that the social networking site could close the deal within just ten days, after receiving information from what it said was a reliable source. The company, however, has not made a comment on the matter.
Were it to go through, the deal would be one of the largest made by the site since it was established five years ago.
This acquisition would provide Twitter with software to improve interface and enhance capabilities.
Twitter was set up by Jack Dorsey, Biz Stone and Evan Williams in 2006. It was created as a micro-blogging site to allow people to post frequent small updates limited to around 140 characters. It is used widely by celebrities, businesses and politicians and has an estimated 200 million users worldwide.
TweetDeck offers a similar service which links in with other social networking sites, such as Facebook.
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