Posted by Renee Schmidt

TechCrunch reported yesterday that it has learned of Twitter’s acquisition of TweetDeck. TweetDeck is an application that connects you with your contacts across Twitter, Facebook, LinkedIn and other social media and social networking site. 

Back in February, it was reported that TweetDeck had been acquired by UberMedia for a price of $25 – $30 million.  When Twitter learned of the sale, they quickly provided an unsolicited counter offer.  The counter offer, which put the company’s sale back onto the table, was driven by Twitter’s discomfort with UberMedia’s market share in the social media integrator software space.  According the Mashable, around 40% of tweets come from third-party apps, and TweetDeck is leading the pack.

TechCrunch reports that the transaction, which should be announced in the next few days, is for a $40 – $50 million purchase price inclusive of both cash and Twitter stock.  I’ll keep you posted as the story unfolds!