Facebook announced that it acquired Onavo today, which is an Israel-based startup that focusses on two key areas. This includes minimizing data usage while surfing the web along with optimizing iOS/Android app performance and analytics for mobile publishers.
The acquisition was initially rumored to be at the $200 million plus level, but it was recently reported to be closer to $120 million.’
This is what Onavo’s CEO Guy Rosen had to say through their official blog:
We are excited to announce that Facebook has agreed to acquire our company.
Three years ago, we started Onavo with the goal of helping today’s technology consumers and companies work more efficiently in a mobile world. We developed the award-winning Onavo mobile utility apps, and later launched Onavo Insights, the first mobile market intelligence service based on real engagement data. Our service helps people save money through more efficient use of data, and also helps developers, large and small, design better experiences for people.
Both Onavo’s talent and technology will be apart of the deal, with all 40 of Onavo’s employees joining Facebook. The headquarters will also be converted into Facebook’s first Israel office.
What does this mean for the future of Facebook?
The areas Facebook is likely most interested in is data management and compression for their apps. So you can expect Facebook related apps to use less data and hopefully operate faster in the future.