May 3rd, 2011

Twitter is currently in the process of buying up one of the biggest third-party Twitter applications, a move made to prevent UberMedia’s proposed acquisition of the company. UberMedia had it out to purchase TweetDeck for something around $30 million, but Twitter swooped in with a counter offer of cash and stock valued in the neighborhood of $40 to $50 million. Twitter feared the amount of leverage UberMedia would gain with control of their own Twitter client, especially one as popular as TweetDeck.

How the acquisition will affect the future of TweetDeck is unknown. We’d expect the app to continue side-by-side with the official Twitter app for the foreseeable future.

[via TechCrunch]