Twitter has officially accepted Elon Musk’s offer to buy the company for a whopping $44 billion.
Musk and Twitter had been in discussions since yesterday (April 24) before finally agreeing on terms today.
“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Musk said in a statement announcing the deal.
“I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans,” he added.
“Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”
The deal comes after Musk became Twitter’s largest shareholder at the start of the month, making a 9.2% investment into the company.
Nearly two weeks ago however, he made an offer to buy the the social media site after realising it would “neither thrive nor serve this societal imperative” following his investment.
“Twitter needs to be transformed as a private company,” Musk said when initially making his offer.
“My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” he added.
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