Twitter acquires TweetDeck

Twitter has acquired TweetDeck, an application for organizing the display of tweets, for more than $40 million in a mix of cash and stock, according to sources close to the deal. TweetDeck has been the subject of speculation about deals for months. TechCrunch surfaced reports, citing a $40 million-$50 million acquisition. The deal has yet to be announced, but papers finalizing the deal were signed May 23.