San Francisco—After more than a month of speculation,
Twitter Inc. has confirmed
that its plan to acquire popular third-party Twitter client TweetDeck has been finalized. No purchase price was disclosed, but CNNMoney has reported
that the deal was for about $40 million.
Twitter CEO Dick Costolo, the TweetDeck acquisition will provide the company with a platform for "power users."
TweetDeck, based in London, is the most popular third-party Twitter monitoring tool, with a 13.1% market share, ranking behind only Twitter's own solutions, according to
social media monitoring company Sysomos.