Facebook Acquires Snaptu For $60-$70 Million

Here is a sizzling news in the field of networking again. Just with the advent of facebbok providing email IDs it has been confirmed that Facebook has acquired Snaptu which provides high class mobile applications for feature phones. Several Israeli business newspapers like “The Marker Calcalist”  have confirmed this news and has quoted an amount of $60-$70 million, although some of the other reports and news claim the amount to be $40 million.

An executive from Snaptu ( ORLI YAKUEL) has also confirmed this news but refused to discuss the purchase amount or any other confidential details of the deal between facebook and snaptu.  The confirmation of this news has also been given on #-Link-Snipped-#. Facebook has also announced the launch of a new application with snaptu . This application, as claimed by facebook will run across 2500 models like Sony, LG, Nokia etc. this application helps us to have a home screen which appears similar to the android and iPhone. This enables the user to scroll faster through the status updates and photos.

Soon after this launch Snaptu felt that facebook provided better opportunities for accelerating the development of their product. Another advantage put forth was they can make more effective impact on the world.

Here is what facebook commented on the issue:

“As part of our goal to offer people around the world the opportunity to connect and share on mobile devices, we’re excited to confirm that we recently signed an agreement to acquire Snaptu. We expect the acquisition to close in a few weeks, subject to customary closing conditions. Snaptu is a startup run by a highly innovative collection of engineers and entrepreneurs, who we already work closely with to offer a Facebook mobile application for feature phones. As part of Facebook, Snaptu’s team and technology will enable us to deliver an even better mobile experience on feature phones more quickly.”

(As quoted by TechCrunch • Page 5 of 11740 • Startup and Technology News)

This is the second international acquisition for facebook. The first was Malaysia’s Octazen. This is the fourth purchase of this year after Rel8tion, Pursuit and Beluga. Great going facebook!