Facebook buys Israeli start-up Onavo
"Facebook has agreed to buy our company," Onavo co-founders Guy Rosen and Roi Tiger wrote on their blog, without saying how much the social networking company had agreed to pay.
Local media reports priced the acquisition at US$100m and US$200m. Reports said that Facebook would open its first research and development centre in Israel.
Onavo has a corporate arm, which provides businesses with market intelligence about users' application usage.
The website of Israel's Haaretz daily said 30 of Onavo's 40 employees are based in Israel, while the rest work from Palo Alto, California.
Onavo's Tel Aviv office will remain open but will become Facebook's new Israeli office.
Source: AFP via I-Net Bridge
Source: I-Net Bridge
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