Facebook Inc the social networking company recently acquired Israeli analytics app maker Onavo. Facebook supposedly bought Onovo for a project aimed at making the Internet available to billions of people around the world who are not currently online, Onavo's data-saving capabilities have promise for this project.
Onovo's mobile app helps people cut their phone costs, their app claims to be able to use data more efficiently and allow users to get up to five time more usage out of a data plan. Their data saving features are likely to help Facebook provide internet by reducing the amount of data downloads required to run its mobile internet applications.
"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 product," said a Facebook spokeswoman.
Facebook supposedly paid between $150 million and $200 million in the deal. This is the largest deal for the social networking site since their purchase of Instragram last year.
Part of the deal will include Onavo's Istraeli offices. Facebook will transfer some of its employees, and run a research and development facility in Israel.
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