CoTweet Picked Up By Email Marketing Firm ExactTarget

ExactTarget, a leader in the field of email marketing, has just agreed to the terms of a deal that will result in their acquisition of CoTweet.  A young company, but one with a powerful product, CoTweet  offers tools that allow multiple users to update through corporate twitter accounts.

CoTweet is a browser-based collaboration platform that helps companies manage multiple Twitter accounts from a single portal, supports multiple editors, keeps track of conversations, and assigns roles to users.  In its short existence, CoTweet has attracted some big-name clients like McDonald’s, Microsoft, Ford, Dell, and Pepsi.

CoTweet will still operate from its current San Francisco headquarters as a business unit of ExactTarget.  The unit will be headed by Jesse Engle, co-founder of CoTweet and CoTweet CEO.  His unit will be responsible for ExactTarget's social media product development.

Twitter COO Dick Costolo, in a official press release, commented on the acquisition, saying it is a "Strong validation that valuable, sustainable businesses are emerging from the Twitter ecosystem.”

The exact terms of the agreement have not yet been released, but we'll keep you updated.