For the past couple of days there is lot of noise around the blogosphere about a possibility of Twitter acquiring Summize.

Twitter is a free social networking and micro-blogging service that allows users to send 140 characters long messages(tweets) through various medai like web, mobiles and Instant Messengers. Summize is a smart Twitter search service built using Twitter API that can analyse and produce real time search results.

OM Malik of GigaOM blog has confirmed that this is not just a noise or rumour and the deal is likely to happen in few weeks time. He also analysed why Twitter is so much interested to buy Summize and says

Summize has come up with a clever way of peering through Twitter’s vast data stream and finding out what’s hot, where and how. The results are essentially keywords – topic-, person- or location-based – and thus can be used to show contextual advertising next to the pages that show these results. Summize has thereby developed an ability to monetize conversations without being intrusive.

If this deal goes through hope Twitter will find a way to monetize the huge network it has built all these days.