Apple to buy Twitter for £460m?
- Added:
- May 05, 2009
Apple is set to offer $700m to buy micro-blogging site Twitter in a deal to be announced in June, according to new report.
The report, from Gawker reporter Owen Thomas on his ValleyWag blog, cites a source that has been recruited by Apple and says the two are locked in talks over a potential sale.
The figure of $700m (£460m) comes after Twitter turned down $500m plus shares offer from Facebook at the end of last year.
Google was also reputedly at late stage talks with Twitter last month. The bid was predicted to be higher than Facebook’s bid, however was turned down by Twitter CEO, Evan Williams.
However, the ValleyWag blog cites a source close to Twitter saying Apple's offer would be ‘hard to turn down’.
The inside source at Apple believes the deal is already at the late stages of negotiation, with the hope of completion by 8th June 2009 to co-incide with its annual Worldwide Developers Conference in San Jose.
Apple is thought to be interested in purchasing Twitter because of the potential links with the iPhone. iPhone applications such as 'Tweetie', that people use to post Twitter updates are big sellers for Apple.
Both Twitter and Apple have so far not commented on the ValleyWag report.
**************************
SPECIAL OFFER: The first 10 readers to send an email with your name and company details to events@netimperative.com with 'Net Nights: Special offer' in the subject line will get a FREE PLACE at the Netimperative Nights event this Thursday evening (May 7th).
