05/02/2011 06:31 pm ET | Updated Jul 02, 2011

Twitter Buying TweetDeck For $40 Million To $50 Million, Sources Say

Just weeks after the Wall Street Journal reported that TweetDeck was being purchased by Twitter, TweetDeck is back in the news again.

This time, TechCrunch's Michael Arrington is reporting Twitter has purchased TweetDeck for $40 to $50 million.

According to sources, the purchase will be announced "in the next few days." Arrington writes that Bill Gross's UberMedia had nearly finalized the purchase of the company back in February, but an unsolicited counter-offer from Twitter put TweetDeck back out in the open.

Arrington argues that the purchase is a defensive move for Twitter: "[Twitter] simply couldn’t allow UberMedia to have so much market share in this space." Although Twitter has dedicated apps across the major mobile platforms, TweetDeck is known to be used by many power users because of its customizable, if sometimes clunky, multi-column view.