Facebook on Monday announced it was acquiring Onavo, a 3-year-old company that has developed a data compression technology for smartphones, among other things. Based in Israel, Onavo will give Facebook a foothold in a market known for its advanced tech talent base. Onavo’s Tel-Aviv office will become Facebook’s new Israeli office. While Facebook is clearly interested in global expansion, the driving focus behind this acquisition is most likely Onavo’s technologies and the expertise of its 40-some employees.
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Facebook to Set Up Shop in Israel's Tech Hub
Posted by: Erika Morphy October 14, 2013 04:07 PMFacebook on Monday announced it was acquiring Onavo, a 3-year-old company that has developed a data compression technology for smartphones, among other things. Based in Israel, Onavo will give Facebook a foothold in a market known for its advanced tech talent base. Onavo’s Tel-Aviv office will become Facebook’s new Israeli office. While Facebook is clearly interested in global expansion, the driving focus behind this acquisition is most likely Onavo’s technologies and the expertise of its 40-some employees.