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#Business

Facebook acquires Onavo

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Facebook has acquired Onavo, the Tel Aviv based mobile analytics startup, which offers mobile data monitoring and compressing apps.

The deal between the two was revealed in a blog post on Sunday. Onavo’s co-founder and CEO, Guy Rosen and co-founder and CTO, Roi Tiger, said that their main aim behind starting Onavo three years ago was to help all the tech customers to work efficiently even through mobile devices. They also said that Onavo is very “eager to take the next step and make an even bigger impact by supporting Facebook’s mission to connect the world” – Internet.org initiative.

The duo said expressed their excitement of joining Facebook’s team and are hoping “to play a critical role in reaching one of Internet.org’s most significant goals – using data more efficiently,” enabling people across the globe to connect and share.

After the acquisition is completed Onavo mobile utility apps will continue running under a standalone brand. Onavo stressed that the company is committed towards the privacy of its users and “that commitment will not change.”

After the deal Onavo’s Tel Aviv head office will become the social networking giant’s new Israel branch. Although no information about the amount of money involved in the deal has been disclosed, it is speculated that Onavo got somewhere between $100m and $200m.

Speculations are that Facebook might use Onavo’s technology to make its apps more data efficient thereby attracting more and more users.