Micro-blogging service Twitter is thought to have purchased TweetDeck for $40m.
Tweetdeck, which was developed by Iain Dodsworth, allows web users to track posts and messages on Twitter and other social networks.
TweetDeck is currently based in Old Street in London, an area of the UK's capital that the government wants to turn into a British rival to Silicon Valley, and has gained some 20 million users since its launch in 2008.
According to CNN Money, the deal was finalised yesterday and will be officially announced today. However, Twitter has remained tight-lipped on the deal, simply stating on the micro-blogging service through its official account: "For all those who might be curious, we continue to not comment on rumours."