Micro blogging site, Twitter has acquired an application for organizing the display of tweets called TweetDeck for more than $40 million, according to some sources.

According to a report by TechCrunch, the deal is worth between $40 million-$50 million but it is yet to be announced. The deal is believed to have been signed on Monday and will be paid by a mix of cash and stock by Twitter.

Twitter has long follow a policy of either shunning third party apps or acquiring them. The company has acquired popular Twitter iPhone app Tweetie, and partnered with photo add-on TwitPic for its new service.

Earlier reports suggested that UberMedia, which was the leading developer of apps and Web-based services for Twitter, was in talks to takeover Tweetdeck after it had some disagreements with Twitter. The disagreements resulted in the micro blogging site pulling down UberMedia services. Twitter had suspended UberMedia's UberTwitter and twidroyd citing policy violations.

Company representatives have not commented on the matter and PR department wrote in a tweet, "For all those who might be curious, we continue to not comment on rumors."