Google Play icon

Facebook buys Israeli startup Onavo

Share
Posted October 15, 2013
Facebook will acquire an Israeli start-up called Onavo, the Tel Aviv-based firm said Monday, in a deal reportedly worth up to $200 million.

 
Facebook is ending a feature that allowed users to hide from the billion-plus members of the social network
Facebook is ending a feature that allowed users to hide from the billion-plus members of the social network
 

“Facebook has agreed to acquire our company,” Onavo co-founders Guy Rosen and Roi Tiger wrote on their blog, without saying how much the social networking giant had agreed to pay.

Local media reports priced the acquisition at $100-200 million (73 million to 147 million euros) and said it would see Facebook open its first research and development centre in Israel.

Founded in 2010, Onavo develops applications to help users better manage mobile data costs, particularly when they travel abroad.

It also has a corporate arm, which provides businesses with market intelligence about users’ application usage.

The website of Israel’s Haaretz daily said 30 of Onavo’s 40 employees are based in Israel, while the rest work from Palo Alto, California.

Onavo’s “Tel Aviv office will remain open for business and will become Facebook’s new Israeli office,” the blog entry read.

Source: Phys.org

Featured news from related categories:

Technology Org App
Google Play icon
85,413 science & technology articles

Most Popular Articles

  1. New treatment may reverse celiac disease (October 22, 2019)
  2. "Helical Engine" Proposed by NASA Engineer could Reach 99% the Speed of Light. But could it, really? (October 17, 2019)
  3. New Class of Painkillers Offers all the Benefits of Opioids, Minus the Side Effects and Addictiveness (October 16, 2019)
  4. The World's Energy Storage Powerhouse (November 1, 2019)
  5. Plastic waste may be headed for the microwave (October 18, 2019)

Follow us

Facebook   Twitter   Pinterest   Tumblr   RSS   Newsletter via Email