Reuters: Technology News: Facebook buys Israeli start-up app-maker Onavo

Reuters: Technology News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Eventbrite makes it happen Create an event and sell tickets online through Eventbrite. It's simple! Sign up and get started today. From our sponsors

Facebook buys Israeli start-up app-maker Onavo Oct 14th 2013, 09:20 Tweet Share this Email Print Reprints The Facebook logo is displayed on a computer screen in Brussels April 21, 2010. Credit: Reuters/Thierry Roge TEL AVIV | Mon Oct 14, 2013 5:20am EDT TEL AVIV (Reuters) - Facebook has agreed to buy start-up app-maker Onavo, the Israeli company said on its website on Monday, without giving any details of the deal. Facebook is paying between $150 million and $200 million, the Calcalist financial news website said, making it the social media company's biggest acquisition in Israel. The company, founded three years ago, said that once the transaction closes, Onavo's mobile utility application - which helps people cut mobile phone costs through more efficient use of data - will run as a standalone brand. Onavo has raised $13 million in venture capital, according to Calcalist. Its investors are Sequoia Capital, Magma Venture Partners, Horizons Ventures and Motorola Mobility Ventures. Onavo will keep its Israeli offices, making this the first time Facebook will run a research and development centre in Israel, according to the Haaretz news website. When Facebook acquired Snaptu and Face.com, it transferred the employees to its own offices in California, where Onavo already has offices. (Reporting by Tova Cohen; Editing by Louise Ireland) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions