28-03-2024 05:46 PM Jerusalem Timing

Facebook Acquires Mobile Israeli Startup: Onavo

Facebook Acquires Mobile Israeli Startup: Onavo

Facebook has agreed to purchase Onavo, a Zionist data compression developer for mobile applications.

FacebookFacebook has agreed to purchase Onavo, a Zionist data compression developer for mobile applications, Facebook confirmed Monday.

Both companies have not disclosed the sum of the deal. However, according to financial daily the Calcalist the purchase cost more than 100 million U.S. dollars.

Under the agreement, Onavo's office would remain in Tel Aviv, a move which will give the Zionist entity its first Facebook research and development center.

Founded in 2010, Onavo develops data compression technologies and mobile analytic utilities applications. It uses data from millions of users in order to rate the popularity of other applications.

Onavo is based in Palo Alto, California and employs 40 workers, 30 of whom work in the occupied territories of Palestine. So far it raised 13 million dollars from Sequoia Capital, Magma Venture Partners, Horizons Ventures and Motorola Mobility Ventures.

This is the third large acquisition by the world's largest social network company in the Zionist entity. In 2012 it purchased Face.com, a face recognition company, for 100 million dollars, and in 2011 it purchased Sanptu, a mobile application developer, for 70 million dollars.