LinkedIn is to buy news reader app Pulse, as the business-based social network continues its strategy to become a one-stop business news and communications destination.
According to technology blog AllTingsD, the deal will see LinkedIn buy San Francisco-based Alphonso Labs in a deal valued at between $50 million and $100 million.
Kara Swisher reported earlier today that a deal was in the works, with Microsoft and Yahoo also engaged in talks.
Alphonso Labs has raised about $10 million from Redpoint Ventures, Greycroft Partners, Mayfield Fund, Lightspeed Investment Partners, New Enterprise Associates and Lerer Ventures. It has 20 million users who read more than 10 million stories per day.
Other LinkedIn acquisitions include CardMunch, SlideShare and Rapportive.