Rumor mills are churning the possibility of Apple buying out Twitter, the social networking initiative that allows users to "tweet" their status in less than 140 characters.
Apparently, a trustworthy source has revealed to TechCrunch's Michael Arrington that Apple is in the "late stages" of striking a deal with Twitter. The deal is supposedly valued at $700 million and if all goes well, it will be completed by the end of this month. A formal announcement too is expected by the time of the WWDC, (WorldWide Developer's Conference) scheduled in June.
The current rumors come only a few days after Google made an attempt to buy Twitter. Social Networking Giant Facebook too had in the past tried to acquire Twitter. Both the attempts were graciously rejected by Twitter. With these events in the background, it is slightly surprising to hear rumors like these.
Another perplexing thing to ponder about is Apple's intentions behind the acquisition. Acquiring Twitter made far more sense for companies like Google and Facebook who are already in this "social networking" field and can leverage Twitters influence to enhance their existing products. Apple, on the other hand, has virtually no presence in this field and unless the company has something serious to offer in this space, this might just vanish, just like many other rumors do.
We will, in any case, wait and watch how his one ends. After all, the WWDC is not that far anyway.
