Twitter Finalizes $40 Million Deal to Acquire TweetDeck

According to reports from CNN Money, Twitter has acquired TweetDeck for more that $40 million in cash and stock. Neither company has issued an official announcement yet, but according to inside sources, papers finalizing the deal were signed Monday.

Speculation that Twitter was eyeing TweetDeck began several months ago. TechCrunch reported in early May that Twitter had made a deal to buy the company for $40 million to $50 million, outbidding UberMedia.

Twitter’s PR account responded to reports by tweeting, “For all those who might be curious, we continue to not comment on rumors.”