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article imageFacebook buys Onavo, Israeli startup, for over $100 million

By Dawn Denmar     Oct 14, 2013 in Business
Tel Aviv - Onavo owns an award-winning mobile app to help maximize a smartphone's data plan, and the purchase is said to boost Facebook's project to make the Internet available to billions of people round the world who are not online.
Onavo announced the news of the Facebook takeover to employees yesterday morning and said it will keep its Israeli base which is where 30 of the total workforce of 40 are located.
It's believed the purchase cost Facebook up to $200million and a spokesman told Reuters: "We expect Onavo's data compression technology to play a central role in our mission to connect more people to the Internet, and their analytic tools will help us provide better, more efficient mobile products."
Onavo helps users to cut mobile data costs and high roaming costs. Onavo Extend was launched in April 2011 and is an app allowing for compression of data which is then transmitted to users phones in a lighter, compressed format allowing users to consume up to five-times the amount of data allowed by their phone package contract. The idea for the business came to founder Guy Rosen after receiving a massive phone bill following a trip to Barcelona.
Onavo was founded by brothers Guy Rosen and Roi Tiger, based on experience and knowledge they gained while serving with the Israeli army intelligence teams. Cellular devices connect with Onavo's cloud-based compression service during installation.
In February this year Onavo launched Insights offering rankings of applications popularity. It has a free service giving basic information, such as ratings for iPhone apps in the United States, and a subscriber service for mobile software developers and advertisers giving iOS and Android details for many countries.
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