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Facebook snaps up data optimisation startup Onavo to boost project

Facebook has just snapped up Israeli mobile data optimisation startup Onavo.

No financial details of the deal have been officially announced, but news publication Calcalist says the takeover will cost Facebook between $150 million and $200 million (£93.8 million and £125 million).

"We are excited to announce that Facebook has agreed to acquire our company," wrote co-founder and CEO Guy Rosen and co-founder and CTO Roi Tiger in a blog post.

Onavo's app is designed to help users cut unnecessary costs by making efficient use of mobile data.

Once the deal is completed, Onavo's application will remain available as a standalone brand.

The company, which was founded three years ago, will keep its Tel-Aviv offices, in turn meaning that Facebook will also acquire its first Israeli base.

According to Onavo, it will work with Facebook on the alliance, which is aimed at helping the billions of unconnected people on the planet gain improved access to Internet services.

"We're excited to join their team, and hope to play a critical role in reaching one of's most significant goals – using data more efficiently, so that more people around the world can connect and share," Onavo added.

There has been a huge boost in Israeli startup activity recently, with major technology firms consistently paying big bucks for young outfits in the area.

ITProPortal recently interviewed Taykey CEO Amit Avner, who told us why he believes this is the case.