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article imageTwitter acquires TweetDeck for $40 million

By Christopher Bates     May 25, 2011 in Business
London - In a deal worth $40 million, Twitter has announced the purchase of TweetDeck, a London-based company that allows users to track various social networking accounts.
TweetDeck allows users to keep a close eye on all major social networking platforms, giving them the ability to leave synchronized status' at the click of a button. Users may also search key terms and see how often they're mentioned by others.
While TweetDeck allows people to connect to different social networks, it's primarily used by Twitter users.
Twitter acquired the company as a strategic move to prevent it from being snapped up by someone else, and because the application is used widely by Twitter "power users" who are considered to be among the most influential members of the social network.
Founded in 2008, TweetDeck has a total of 15 employees.
Twitter said TweetDeck will remain in London and will continue to operate as normal.
In an interview after the announcement, TweetDeck CEO Iain Dodsworth said, "Change may well be inevitable, but we remain the same team, staying in London, with the same focus and products, and now with the support and resources to allow us to grow and take on even bigger challenges."
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