Facebook buys Israeli start-up Onavo

The price is $100-200 million. Onavo will become Facebook's first Israeli office.

"TechCrunch" reports that Facebook Inc. (Nasdaq: FB) has acquired Tel Aviv-based Onavo Ltd., a developer of mobile app analytics solutions, for $100-200 million.

"AllThingsD" says, "Facebook will turn Onavos Tel Aviv headquarters into Facebooks new Israeli office, a first for the social giant."

Onavo was founded in 2010, and develops mobile app analytics for marketers.

"Our service helps people save money through more efficient use of data, and also helps developers, large and small, design better experiences for people," say Onavo's founders, CEO Guy Rosen and CTO Roi Tiger, in a blog today. "Were excited to join their team."

"Onavo will be an exciting addition to Facebook, a Facebook spokesperson told "AllThingsD." We expect Onavos data compression technology to play a central role in our mission to connect more people to the Internet, and their analytic tools will help us provide better, more efficient mobile products.

Facebook is known for acquiring companies and then closing them. In today's blog post, Rosen and Tiger say, "We are incredibly proud of the talented team we have assembled, and, recognizing this, Onavos Tel-Aviv office will remain open for business and will become Facebooks new Israeli office."

Onavo is backed by Sequoia Capital, Magma Venture Partners, Horizons Ventures, and Motorola Mobility Ventures.

Published by Globes [online], Israel business news - www.globes-online.com - on October 14, 2013

Copyright of Globes Publisher Itonut (1983) Ltd. 2013

 
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