Twitter finalizes its acquisition of TweetDeck

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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. According to 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.
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