Putting an end to all the rumors and speculations, the microblogging site Twitter has now been owned by the world’s richest man Elon Musk. Elon Musk has finally bought a 100 percent stake in Twitter for approx $44 billion, around $54.20 per share, and all of it in cash. On April 25, both Twitter and Musk had a meeting and were in the final stretch of negotiations on the sale of Twitter. This move united the social media site and the Tesla CEO Elon Musk where every eye is now focusing on the takeover by the billionaire.
Earlier on April 14, Elon Musk made his wish to buy the social media site and he also had plans to bring new features to Twitter. “I want to make Twitter better than ever by enhancing the product with new features. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it,” Musk said in a press statement posted to his Twitter account.
Twitter has been acquired by Musk in a transaction valued at $44billion in total. Despite the concerns about Twitter officials’ turn back with Elon Musk, finally, there came an end to the fight, and Musk’s ownership was unanimously approved by officials.
Tech acquisitions in the world
Elon Musk bought Twitter for $44 billion and is one of the biggest tech acquisitions of all time. In fact, the takeover by Elon Musk is the third-largest tech acquisition in the world. There have occurred many other shocking takeovers in the tech industry in the past few years.
Only Microsoft’s deal to buy the gaming giant Activation Blizzard and Dell’s 2015 move to acquire the data storage leader EMC involved more money. Microsoft completed the largest tech acquisition in history when it bought the gaming giant Activision BLizzard for $68.7 billion.
In a deal by Dell in 2015, it acquired and merged with network storage EMC corp and it was for $67 billion. Anyway, when it comes to the tech sector Elon Musk is the man who made history. Apart from these deals, Avago Technologies bought Broadcom for $37 billion. AMD bought Xlinix for $35 billion and IBM bought Redhat for $34 billion.