Twitter offers $50 million to buy TweetDeck

Twitter is attempting to buy third-party tweeting software TweetDeck for $50 million.

The social networking site is looking to quickly seal a deal on TweetDeck in as little as ten days, a source close to Twitter told Reuters.

TweetDeck came onto Twitter's radar after UberMedia attempted to buy it recently. It offered an amount in the $25 million to $30 million range, significantly less than Twitter's offer, but its exclusivity terms expired in April, allowing Twitter to make a superior bid of between $40 million and $50 million.

UberMedia has been buying up Twitter applications for some time now, leading many to suspect that it might launch a rival social network. Twitter is obviously aware of these rumours and wants to grab TweetDeck before it is turned into a contending force.

TweetDeck has proven popular with Twits, thanks to its user-friendly interface, but it's not clear if it will remain as is under Twitter's rule or will be revamped to look and feel more like the official site, a change which may not please TweetDeck users.

The deal, if accepted, will involve a transfer of part cash and part company stock. It will be one of the biggest acquisitions by Twitter since it was founded in 2006.