Facebook buys Israeli start-up app-maker Onavo

Reuters

TEL AVIV, Oct 14 (Reuters) - Facebook has agreed to buystart-up app-maker Onavo, the Israeli company said on itswebsite on Monday, without giving any details of the deal.

Facebook is paying between $150 million and $200 million,the Calcalist financial news website said, making it the socialmedia company's biggest acquisition in Israel.

The company, founded three years ago, said that once thetransaction closes, Onavo's mobile utility application - whichhelps people cut mobile phone costs through more efficient useof data - will run as a standalone brand.

Onavo has raised $13 million in venture capital, accordingto Calcalist. Its investors are Sequoia Capital, Magma VenturePartners, Horizons Ventures and Motorola Mobility Ventures.

Onavo will keep its Israeli offices, making this the firsttime Facebook will run a research and development centre inIsrael, according to the Haaretz news website.

When Facebook acquired Snaptu and Face.com, it transferredthe employees to its own offices in California, where Onavoalready has offices.

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