Facebook Inc (NASDAQ:FB) has agreed to purchase Onavo, an Israel based start-up app-manufacture, that will provide the social networking first office in the country, according to Israeli company official website on, but do not provide additional details of the deal.
The Israel based company that mostly deal with manufacture data compression software, as well as provide a wide range of analytic services for smartphone applications has been acquire by the social networking giant founded three years ago and has approximately 40 employees.
The big benefit for world’s largest social networking firm company is the Israelis firm’s ground-breaking data compression technology that facilitates smartphones to decrease data consumption approximately 80%. This kind of technology is important to the aim of Internet.org, in August an organization launch by Facebook Inc (NASDAQ:FB)’s CEO, Mark Zuckerberg, i.e. is trying to provide mobile Internet facility at very low cost or for free to approximately more than billion people internationally, so this kind of technology is vital for FB.
It is hopeful that data compression technology will play vital role in the company’s mission to join more users to the Web, and these tools will aid the firm to provide more efficient mobile products, said the company spokesman.
Chief executive and co-founder of the Israeli based firm, Guy Rosen, said that their firm would mainly work as a stand-alone entity, similar to social giant other two takeovers like, Parse and Instagram. While the social networking giant has already acquired another Israeli start-up Snaptu, in 2011 that has also innovative data compression technology.
Currently majority of social company staff are employed at its headquarters in Menlo Park, California, and traditionally, the firm has drag staff at takeover firms into the parent company. But in the latest deal Onavo has urged to keep majority of that company’s staff in Tel Aviv.
Mr. Rosen also wrote the firm is happy to stick together their squad and expect to play a vital task in attainment one of Internet.org’s most important aims by using data more professionally, so that more users throughout the glob can connect and share. Shares of Facebook Inc (NASDAQ:FB) were down -1.53% to $48.36 in premarket. In last session FB closed at $49.11.
Leave a Reply