Facebook Buys Start-up app-maker Onavo

Monday, October 14, 2013

Facebook Buys Start-up app-maker Onavo

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Facebook will buy start-up app-maker Onavo, a company that specializes in mobile applications as part of its effort to reduce the number of people without Internet access.Monday.

Onavo developed the Onavo mobile utility apps, and later launched Onavo Insights, the first mobile market intelligence service based on real engagement data. The service helps people save money through more efficient use of data, and also helps developers "design better experiences for people."

Onavo said that once the transaction closes, Onavo's mobile utility application will run as a standalone brand.

Onavo said its Tel-Aviv office will remain open for business and will become Facebook's new Israeli office.

Financial information about the deal was not disclosed.