Snaptu consumed by Facebook for $70 million

Snaptu consumed by Facebook for $70 million

Palo Alto : CA : USA | Mar 20, 2011 at 3:13 PM PDT
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New Nokia C3 Ovi store And Snaptu 1.6.1

Facebook has made a deal to buy Snaptu, founded in 2007.

"As part of Facebook, Snaptu's team and technology will enable us to deliver an even better mobile experience," wrote Facebook spokesman Jonny Thaw, in an email.

Since Snaptu is an application developer for mobile devices and Facebook is ready to expand its mobile services, the time was right for Facebook to acquire the company.

Snaptu develops applications for feature phones, which have fewer capabilities than smartphones--earlier this year the company helped create a feature phone Facebook app.

The merger and acquisition particulars will be handled by a member of Google Inc's corporate development team, hired by Facebook.

The deal is said to be $70 million for Facebook's 500-million-plus member online social network. Also, Facebook is in the market for more deals.

According to the Israeli newspapers Calcalist and The Marker, Snaptu reported the deal as legitimate and it is supposed to close in a few weeks.


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Stephanie Ealy is based in Tacoma, Washington, United States of America, and is an Anchor on Allvoices.
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