Twitter will soon become part of the Facebook family, with the social networking company acquiring the popular photo sharing app in a $1.4 billion deal.
The news was first reported by The Wall Street Journal, which said the deal was struck during Twitter’s third quarter earnings call with analysts.
Facebook shares rose $1 to $56.70 in afternoon trading, as investors took note of the move, which follows the recent news of a deal between Facebook and Apple to make Facebook-owned photos accessible to iPhone owners.
Shares of LinkedIn also rose to $7.80, while the social network’s stock was up $1,566.50.
Twitter shares closed up $4.30, or 0.2 percent, at $62.80.
Facebook shares were up $5.40, or 1.7 percent.
Shares in Google also gained $1 each to $62 a share.
Twitter’s stock is up $2.50, or 2.6 percent.