On Tuesday, Twitter completed a deal to buy TweetDeck, reportedly for $40M to $50M.

TweetDeck offers a dashboard for monitoring what people are saying on Twitter in real-time. TweetDeck provides brands, publishers, marketers and others with a powerful platform to track all the real-time conversations they care about. Twitter says that it will continue to invest in the TweetDeck.

"The mainstream Twitter user-base is well catered for by twitter.com and the official mobile clients. And by becoming part of the official platform, TweetDeck will now fill that role for brands, influencers, the highly active and anyone that just needs "more power", " TweetDeck members wrote at the company's blog.

"Change may well be inevitable, but we remain the same team, staying in London, with the same focus and products, and now with the support and resources to allow us to grow and take on even bigger challenges," TweetDeck team added.

Twitter did not give financial terms, though reports have pegged the price at around $40 million to $50 million.