Facebook to buy mobile app developer Snaptu

NEW YORK Sun Mar 20, 2011 5:00pm EDT

The Facebook logo is shown at Facebook headquarters in Palo Alto, California May 26, 2010. REUTERS/Robert Galbraith

The Facebook logo is shown at Facebook headquarters in Palo Alto, California May 26, 2010.

Credit: Reuters/Robert Galbraith

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NEW YORK (Reuters) - Facebook has agreed to buy Snaptu, an application developer for mobile devices that are less sophisticated than smartphones, as the world's largest Internet social network focuses on expanding its mobile services.

Facebook will pay up to $70 million for the London-based Snaptu, according to the Israeli newspapers Calcalist and The Marker.

Snaptu confirmed the deal, which is expected to close in a few weeks, on its website on Sunday.

Facebook spokesman Jonny Thaw declined to comment on the deal's terms, but said in an email, "As part of Facebook, Snaptu's team and technology will enable us to deliver an even better mobile experience."

The site has been increasingly focusing on building up its mobile phone services for its 500-million-plus member online social network, and is in the market for more deals. Last week, Facebook said it had hired a member of Google Inc's corporate development team to lead its fledgling merger and acquisition efforts.

Snaptu, founded in 2007, develops applications for feature phones, which have fewer capabilities than smartphones. The company helped develop a feature phone Facebook app earlier this year.

(Reporting by Maria Aspan; Editing by Marguerita Choy)

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Comments (1)
Zamadra wrote:
Congratulations on your purchase. A few weeks ago Business Analysts said that Facebook should make certain acquisitions sustentabilizar for the creation of value before the IPO and had cash for such purchases.

Mar 21, 2011 10:30am EDT  --  Report as abuse
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