Share “Facebook buys Israeli startup”

Facebook buys Israeli startup

bits.blogs.nytimes.com Published: October 14, 2013
Advertisement

Facebook announced early Monday that it had acquired Onavo, a three- year-old start-up that makes data compression software and offers a variety of analytic services for smartphone applications, according to The New York Times.



The paper reports the purchase of Onavo, which has about 40 employees, gives Facebook, the world’s biggest social networking company, its first office in Israel.

Most of Facebook’s employees work at its headquarters in Menlo Park, California, and historically, the company has sought to pull workers at acquired companies into the mother ship. But as part of the sale, which was for an undisclosed price, Onavo appears to have cut a deal to keep most of that firm’s employees in Tel Aviv, according to The Times.

H/T: Newser
See this story on bits.blogs.nytimes.com