Tech Buzz: Facebook Inc. (FB) To Acquire Onavo

Category: Companies / Oct 14, 2013 10:36AM EDT
Facebook Inc. (NASDAQ: FB) has agreed to acquire Israeli mobile app maker Onavo. "We’ve built world-class products and a remarkably talented team which has pioneered important breakthroughs in data compression technology and mobile analytics," said Onavo in a statement. "Today, we’re eager to take the next step and make an even bigger impact by supporting Facebook’s mission to connect the world."
The price was not disclosed. Shares of Facebook fell 2.16 percent to $48.05 on Monday in morning trading.