Twitter may receive a formal bid as it is currently "engaged in conversations" with potential suitors that might include Google, Salesforce.com among other technology companies.
Social media company, Twitter is moving closer to a sale as it received expressions of interest from several technology and media companies, reported CNBC. Twitter may receive a formal bid as it is currently "engaged in conversations" with potential suitors that might include Google and Salesforce.com among other technology companies. Shares of Twitter surged by more than 15% and increased further after news broke out that potential suitors were analysing Twitter's willingness to move forward.
Apparent suitors are said to be as keen on the data that Twitter generates as they are to takeover the media company. CNBC reported that according to sources, Twitter's board of directors were eyeing a deal but no sale was imminent. Even though there was no guarantee of a deal coming into effect, a source revealed that talks were picking up momentum which could lead to a deal before year-end. Vala Afshar, chief digital evangelist at Salesforce.com tweeted, 'Why twitter? Personal learning network, context rich news, democratize intelligence and great place to promote others.' Talks of Twitter's sale came after RBC tech analyst Mark Mahaney downgraded Twitter from "market perform" to "underperform", later predicting a 25% drop in the stock.
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