Facebook acquires Onavo and establishes office in Israel

Mobile tech company Onavo has announced that it has been acquired by Facebook.The news was announced in a blog posting attributed to joint co-founders & CEOs Guy Rosen and Roi Tiger.“We are excited to announce that Facebook has agreed to acquire our company,” the post read.“Three years ago, we started Onavo with the goal of helping today’s technology consumers and companies work more efficiently in a mobile world. “Today, we’re eager to take the next step and make an even bigger impact by supporting Facebook’s mission to connect the world.“We’re excited to join their team, and hope to play a critical role in reaching one of Internet.org’s most significant goals – using data more efficiently, so that more people around the world can connect and share. “When the transaction closes, we plan to continue running the Onavo mobile utility apps as a standalone brand. As always, we remain committed to the privacy of people who use our application and that commitment will not change.”Onavo’s Tel-Aviv office will become Facebook’s new Israeli office.Facebook confirmed the acquisition on Monday.“Onavo will be an exciting addition to Facebook," the company shared in a statement."We expect Onavo’s data compression technology to play a central role in our mission to connect more people to the Internet, and their analytic tools will help us provide better, more efficient mobile products.”

The deal gives Facebook an office in Israel

We are joining the Facebook team http://t.co/wEMokuq2DC

— Onavo (@onavo) October 14, 2013