Report: UberMedia to acquire TweetDeck for $30 million

February 14th, 2011 - 4:44 pm ICT by BNO News  

LONDON (BNO NEWS) — TweetDeck, the company behind the popular application to monitor messages on the social networking website Twitter, is close to agreeing to a multi-million dollar takeover deal, according to a newspaper report on Monday.

International business newspaper the Financial Times (FT) cited people familiar with the negotiations as saying that UberMedia in California wants to takeover TweetDeck for $30 million. TweetDeck was first released in July 2008 by Iain Dodsworth.

Since its release in 2008, more than 20 million people have downloaded TweetDeck, which is free and most recently began to support other social networks such as Facebook, MySpace and LinkedIn. But the application remains most popular with users of Twitter.

UberMedia, formerly known as TweetUp, is part of Idealab and has recently acquired other Twitter tools and services. The acquisition of TweetDeck, according to the Financial Times, is expected to be finalized in March and would likely be in a combination of cash and shares in UberMedia.

TweetDeck has not commented on the report.

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