TweetDeck Officially Bought By Twitter For A Cool $40 million

In two separate announcements Twitter CEO Dick Costolo and TweetDeck Founder and CEO, Iain Dodsworth, officially put an end to the rumors and speculation that Twitter would be buying TweetDeck. The terms of the deal weren't disclosed however CNN.com reported Tuesday that Twitter was buying the maker of the very popular TweetDeck applications for $40 million in cash and stock.

"This acquisition is an important step forward for us," wrote Twitter CEO Dick Costolo in a blog post on the official Twitter blog. "TweetDeck provides brands, publishers, marketers and others with a powerful platform to track all the real-time conversations they care about. In order to support this important constituency, we will continue to invest in the TweetDeck that users know and love."

Dodsworth also confirmed the announcement in his own TweetDeck blog post.

There is no word whether or not Twitter will keep moving forward with development of TweetDeck, something that concerns many of the applications users. Dodsworth would only confirm that his team would remain intact for now. Stating, "Change may well be inevitable, but we remain the same team, staying in London, with the same focus and products, and now with the support and resources to allow us to grow and take on even bigger challenges."

Hopefully Twitter won't strip down the application or the team and the company will allow them to continue to work on bettering an already great piece of software!