Facebook Buys 3-Year-Old Israeli Start-Up Onavo for Up to $200M
Facebook has acquired an Israeli start-up company for between $100 million and $200 million.
Tel Aviv-based Onavo, a mobile analytics company founded in 2010, announced the purchase on Monday. The company will remain based in Israel, and its Tel Aviv office “will become Facebook’s new Israeli office,” the company said in a blog post published early Monday morning.
“We’ve built world-class products and a remarkably talented team which has pioneered important breakthroughs in data compression technology and mobile analytics. 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 company said.
The company’s 30 Israel-based employees will remain in Onavo’s office in Israel. The office will be Facebook’s first research and development center in Israel.
The company helps users keep mobile data costs down by keeping track of high usage apps and compressing data.
The application for that service currently is offered for free. The company’s Onavo Insights service shows usage patterns of smartphone applications.
The purchase comes months after Facebook dropped a bid to purchase the Israeli navigation company Waze. Facebook already has acquired two other Israeli companies: Snaptu in March 2011, and Face.com in June 2012.