According to sources familiar with the matter, professional networking service LinkedIn
will buy the newsreader app Pulse
. A report on AllThingsD
said the price of the acquisition fell between $50 and $100 million. The buy is thought to be used as part of a larger initiative into content development and distribution.
The acquisition is LinkedIn's fourth in six months, including business card digitizer CardMunch, contact manager Rapportive, and presentation hosting company SlideShare. The Pulse newsreader won the Apple Design Award, was named one of Time's
top 50 apps in 2011, and boasts 20 million current users.