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IATI - Israel Advanced Technology Industries
IATI News & Events Daily Industry News Facebook Buys Onavo for $100-200 M And Gets Its Office In Israel

Facebook Buys Onavo for $100-200 M And Gets Its Office In Israel

Oct. 14, 2013

Onavo, the Tel Aviv-based mobile analytics company, has just announced that it has been acquired by Facebook. Onavo will become the anchor for Facebook in Israel — its first office in the country. Terms of the deal have not been disclosed; we are trying to find out. Right now we’re seeing reports of between $100 million and $200 million.

(Israeli paper Calcalist is reporting $150-200 million; other sources tell us the range is more like $100-$200 million.)

The rationale for the deal is easy to see on a few levels.

Facebook has been focusing on building up its mobile business, which is seeing the most growth and is the platform that most users in developing markets are turning to first when signing up for and using the social networking service, so this means beefing up Facebook’s mobile operations in general. Indeed, the company’s co-founders, Guy Rosen (CEO) and Roi Tiger (CTO) even cite Facebook’s recent Internet.org initiative in the company’s short blog post announcing the deal. “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 pair write.

More practically, though, Onavo will give the company a much deeper technology bench to measure how those mobile services are working — who is using them, and how to make them work in the most optimised way on mobile devices. This can be applied in a number of areas both for basic user experience and commercial ends.

For the full news item on TechCrunch click here.

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