Twitter Snaps Up TweetDeck

Twitter has snapped up popular third-party application TweetDeck, ending months of speculation about a possible deal. The acquisition—for some $40 million in cash and stock, according to CNN—is in line with Twitter's recent moves to regain control of its ecosystem and provide a more uniform experience for users, PCWorld notes.

TweetDeck, based in the UK, offers users ways to customize their Twitter feeds through a desktop app. The company has never turned a profit, despite its popularity with high-profile Twitter users. UberMedia, the leading developer of apps for Twitter users, was in talks to buy TweetDeck earlier this year but the deal never materialized. (More TweetDeck stories.)