Facebook acquires mobile app developer Snaptu

Posted By: Abdul Nisar
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Faceboo and Snaptu logos
London, Mar 21: World's largest social networking website with more than 600 million users, Facebook has announced the acquisition of Snaptu, a London based application developer for mobile devices.

With the acquisition of Snaptu, Facebook aims to expand its mobile services. The new acquisition came just days after the Mark Zuckerberg's firm hired Google's director of corporate development, Amin Zoufonoun to lead its mergers and acquisitions team.

The deal is expected to close in a few weeks, but the financial terms are not yet disclosed. Unofficial reports claimed that Facebook will $70 million to Snaptu.

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

Snaptu was founded in 2007 by a group of experts from the IT and mobile communication industries. Snaptu develops apps that deliver a fast, fun and effective user experience for popular mobile Internet applications on virtually every mobile phone.

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