Twitter said Monday it agreed to billionaire Elon Musk’s offer to acquire the social media company for an estimated $44 billion.
Twitter board chair Bret Taylor said the sale represented the best path forward for the company and Mr. Musk said he looked forward to unlocking the company’s full potential.
“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,” Mr. Musk said in a statement. “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.”
Twitter said the deal is expected to close this year.