All of a twitter
Popular app TweetDeck is believed to be close to inking a $30m takeover deal with a Silicon Valley powerhouse.
The FT reported that the East London-based firm could accept the £19m deal with UberMedia soon, according to its sources.
Over 20 million people have reportedly downloaded TweetDeck's software to manage their social networking sites, since its launch in 2008.
The company is apparently being courted by California firm UberMedia, which has recently snapped up other Twitter tools, but has not confirmed its rumoured intentions.
UberMedia was apparently previously known as TweetUp and is part of Idealab, an incubator founded by Bill Gross, whose previous projects reportedly include Overture- a search engine advert provider which was sold to Yahoo! for $1.6bn in 2003.
It is thought that the TweetDeck acquisition could go through as early as next month and is likely to be a mash-up of UberMedia shares and cash.
While the app is currently apparently not making ‘significant' revenues, the deal would value the service at between $25 and $30m and make its backers, Accelerator Group, ProFounders Capital and Betaworks a pretty penny.
The app reportedly raised $3.5m in funding in the summer of 2009 and such a deal would see investors cashing in early.
The deal would also likely be used as a PR tool by the government for its East London Tech City scheme, which aims to stimulate entrepreneurship and was launched by David Cameron in November.
UberMedia has reportedly recently snapped up UberTwitter and EchoFon- tools allowing users to update Twitter from their smartphones. However, it is thought TweetDeck will be the biggest buy to date.
