Facebook makes first ever Israeli acquisition

By ROY GOLDENBERG / GLOBES
March 20, 2011 14:03

 
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Facebook, operator of the world's largest social network, is buying Israeli start-up Snaptu, for $60-70 million.

This transaction is Facebook's first acquisition in Israel.

Snaptu's application allows mobile phones, even those less advanced than an iPhone or Android phone, to access mobile Internet applications.

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