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Report: Twitter is trying to buy Flipboard for over $1 billion

Twitter is said to be in talks to acquire Flipboard, the company behind the personalised magazine and news reader app for iOS, Android and Windows Phone.

According to Recode sources, the firm has offered Flipboard upwards of $1 billion (about £650m) in stock to come aboard the good ship Twitter. The report claims talks have been ongoing since January, but both firms have declined to comment.

Flipboard was last valued at around $800 million and has about $50m in revenue to play with, but the app has stagnated somewhat since it rose to prominence around the time the first iPad arrived on the scene.

Twitter has long been searching for ways to increase its user base which finally broke 300m earlier this year.

Bringing Flipboard on board, which already integrates notable tweets and links shared by the person’s Twitter follows, could be one way to spike the numbers. However, it can be assumed there’s huge overlap between the two firms’ members.

According to Recode, part of Twitter’s interest may be the chance to bring Flipboard co-founder and former Twitter board member Mike McCue on board. The report even speculates Twitter may be viewing McCue as a replacement for embattled CEO Dick Costolo

Google and Facebook may also be interested, the report states.