Facebook Acquires Onavo
Summary
Facebook (NASDAQ:FB) acquired Onavo, a Tel Aviv, Israel-based data compression technology and mobile analytics company.The amount of the transaction was not disclosed and reports said it could be in the $100m/$200m range.Launched three years ago by Guy Rosen, CEO, and Roi Tiger, CTO (read their joint message here), Onavo developed mobile utility apps, which help people save money through more efficient use of data, and large and small developers to design better experiences for people.Following the close of the deal, Onavo will continue running its mobile utility apps as a standalone brand.FinSMEs 14/10/2013 Related News 14/01/2012: Onavo’s Data-Compressing Mobile App Raises $10 Million Series B From Horizons, Motorola Ventures 18/05/2011: Onavo Closes $3M Funding