Facebook Acquires Onavo to Strengthen Global Mobile Strategy

Facebook on Monday confirmed the acquisition of Onavo, a Palo Alto-based startup that makes data-compression software to help minimize data usage on smartphones. The terms of the deal were not disclosed, and Onavo will remain a "standalone brand" within Facebook, according to Onavo's blog post.

Three-year-old Onavo will also retain its Tel Aviv office, giving Facebook a new office on the ground in Israel

The acquisition provides Facebook with the kind of technology that will help the company build the mobile app for its next one billion users Read more...