Headlines:

The Canadian Jeiwsh News

Tuesday, September 16, 2014

Member Login:

Facebook buys Tel Aviv-based start-up Onavo

Tags: Business
Comments

JERUSALEM  — Facebook acquired the Israeli start-up company Onavo for between $100 million and $200 million.

The Tel Aviv-based Onavo, a mobile analytics company founded in 2010, announced the purchase Monday in a blog post. Its 30 Israel-based employees will remain there and the office will be Facebook’s first research and development center in Israel.

Onavo helps users keep down mobile data costs by keeping track of high usage apps and compressing data. Its application currently is offered for free. The company’s Onavo Insights service shows usage patterns of smartphone apps.

“We’ve built world-class products and a remarkably talented team which has pioneered important breakthroughs in data compression technology and mobile analytics,” the company said in its blog. “Today, we’re eager to take the next step and make an even bigger impact by supporting Facebook’s mission to connect the world.”

The purchase comes months after Facebook dropped a bid to acquire the Israeli navigation company Waze.

Facebook already has acquired two other Israeli companies: Snaptu in March 2011 and Face.com in June 2012.
 

© 2014 - CJNEWS.COM, all rights reserved.