Posted on 01. Apr, 2009 in Online Advertising
Google To Acquire Twitter for $635 million in Stock
Combination Will Create New Micro-blogging opportunities for Users Everywhere
MOUNTAIN VIEW, Calif., April 1st*, 2009 – Google Inc. (NASDAQ: GOOG) announced today that it has agreed to acquire Twitter, the consumer media company for people to share original 140 character micro experience, for $635 million in a stock-for-tweet transaction. Following the acquisition, Twitter will operate independently to preserve its successful brand and passionate, albeit, board line neurotic community.
The acquisition combines one of the largest and fastest growing addictions with Google’s expertise in organizing information and creating new models for advertising on the Internet. The combined companies will focus on providing a better, more comprehensive experience for users interested in tweeting, sharing daily drivel, spamming links and will offer a new opportunities for micro bloggers to distribute their boring lives to reach a vast new audience.
“The Twitter team has built an exciting and powerful media platform that complements Google’s mission to organize the world’s information and make it universally accessible and useful,” said Eric Schmidt, Chief Executive Officer of Google. “Our companies share similar values; we both always put our users first and are committed to innovating to improve their experience. Together, we are natural partners to offer a compelling information service to users and advertisers.”
“Our community has played a vital role in changing the way that people interact in real time, creating a new instant information culture. By joining forces with Google, we can benefit from its global reach and technology leadership to deliver a more comprehensive instant experience for our users and to create new opportunities for our partners,” said Evan Williams, Co-Founder of Twitter. “I’m confident that with this partnership we’ll have the flexibility and resources needed to pursue our goal of building the next-generation platform for sharing information worldwide, hopefully with less fail whales.”
When the acquisition is complete, Twitter will retain its distinct brand identity, strengthening and complementing Google’s own fast-growing business. Twitter will continue to be based in San Francisco, CA, and all Twitter employees will remain with the company. With Google’s technology, advertiser relationships and global reach, Twitter will continue to build on its success as one of the world’s most popular services for micro communication.
The number of Google shares to be issued in the transaction will be determined based on the 30-day average closing price two trading days prior to the completion of the acquisition. Both companies have not approved the transaction, which is subject to customary closing conditions and is expected to close in the fourth quarter of 2009. DISCLOSURE *This is not real and only an April Fool’s Joke*
UPDATE – This joke may become a reality – Story at Techcrunch