Facebook acquires Israeli startup Onavo

Facebook has acquired Onavi an Israeli based and a privately-held startup company based in Palo Alto, CA. Onavo is just 3 year old company that make mobile apps and utilities. Onavo has developed the award-winning Onavo mobile utility apps, and later launched Onavo Insights, the first mobile market intelligence service based on real engagement data.

Facebook has acquired Onova for an undisclosed amount however the Calcalist financial news website reported that Facebook is paying between $150 million and $200 million for the acquisition.

Onavo has been founded in 2010 and got backing from Sequoia Capital, Magma Venture Partners, Horizons Ventures and Motorola Mobility Ventures.

One of Onavo developed app Onavo Extend compress your mobile data and get up to five times more out of your data plan without changing the way you use your phone and let you do more activities on 3/4G mobile data plans without breaking your data cap.

Onavo on joining Facebook team announced on its blog - "We’re excited to join Facebook team, and hope to play a critical role in reaching one of Internet.org’s most significant goals – using data more efficiently, so that more people around the world can connect and share. When the transaction closes, we plan to continue running the Onavo mobile utility apps as a standalone brand. As always, we remain committed to the privacy of people who use our application and that commitment will not change."

Notably Facebook and other mobile technology leaders recently launched Internet.org to improve access to the internet for the next 5 billion people.

After acquisition Onavo’s Tel-Aviv office will remain open for business and will become Facebook’s new Israeli office. On the constrary when Facebook acquired Snaptu and Face.com, it transferred the employees to its own offices in California, whereas Onavo already has offices ans this time Onavo office will be called as Facebook's new Israel office.

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