App agency Snaptu to be acquired by Facebook
Facebook is set to buy mobile phone app development company Snaptu.
The acquisition of the London agency was announced on its blog on Sunday, and is expected to be completed by next month and is speculated to be worth up to $70 million.
"We soon decided that working as part of the Facebook team offered the best opportunity to keep accelerating the pace of our product development. And joining Facebook means we can make an even bigger impact on the world,” the blog post explained.
The agency has previously developed apps for LinkedIn, news site Mashable and Twitter.