Social media giant Facebook has recently acquired a Tel Aviv based mobile analytics company Onavo. With the deal, Onavo’s Tel-Aviv office will become Facebook’s new Israeli office.
Though the details of the deal have been left undisclosed for now but as per media reports it is between USD 100 to 200 Mn, an Israeli paper Calcalist has quoted the deal between USD 150-200 Mn.
The acquisition is directly in line with the Facebook’s Internet.org initiative which aims to cut the cost of delivering basic Internet services in the developing countries and as per Onavo, its services helps people save money through more efficient use of data which might play a role in what Internet.org plans to do.
A blogpost by Guy Rosen, Co-Founder & CEO and Roi Tiger, Co-Founder & CTO, Onavo stated, “As you know, Facebook and other mobile technology leaders recently launched Internet.org, formalizing Facebook’s commitment to improving access to the internet for the next 5 billion people — this is a challenge we’re also passionate about. We’re excited to join their team, and hope to play a critical role in reaching one of Internet.org’s most significant goals – using data more efficiently, so that more people around the world can connect and share.”
“We expect Onavo’s 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,” said a Facebook spokesperson in an interaction with AllThingsD.
Onavo’s products help developers, large and small, design better experiences for people. The company is behind the Onavo mobile utility apps, and Onavo Insights, which provides mobile market intelligence service based on real engagement data.
It will keep running Onavo mobile utility apps as a standalone brand after the completion of the deal.
Onavo was founded in 2010 and it has raised USD 13 Mn in venture funding from investors like Sequoia, Horizons Ventures, Motorola and Magma Venture Partners.
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