What you need to know
- Elon Musk is officially buying Twitter.
- The deal is going through for about $44 billion.
- Musk says he has many changes planned for the "digital town square."
Elon Musk is officially buying Twitter.
In a press release, the company announced that it has entered into an agreement with Musk set to acquire Twitter for $54.20 a share, a valuation at approximately $44 billion. Once the transaction is complete, Twitter will become a privately owned company.
Bret Taylor, Twitter's Independent Board Chair, said that the deal is "the best path forward for Twitter's stockholders."
Parag Agrawal, Twitter's current CEO, touched on the impact that the social media brand has on the world.
Musk himself closed out the press release, saying that he plans to turn the platform into a trusted digital town square.
It's currently unclear exactly how Twitter will change under Musk's leadership. We'll have to wait for what is sure to be an eventful few months for the social media network.
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Joe Wituschek is a Contributor at iMore. With over ten years in the technology industry, one of them being at Apple, Joe now covers the company for the website. In addition to covering breaking news, Joe also writes editorials and reviews for a range of products. He fell in love with Apple products when he got an iPod nano for Christmas almost twenty years ago. Despite being considered a "heavy" user, he has always preferred the consumer-focused products like the MacBook Air, iPad mini, and iPhone 13 mini. He will fight to the death to keep a mini iPhone in the lineup. In his free time, Joe enjoys video games, movies, photography, running, and basically everything outdoors.
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