Mergers and Acquistions News
Categories: Software
March 24th 2011, 9:24AM
UK-based software company Snaptu has been snapped up by social networking giant Facebook, in an acquisition for an undisclosed amount.
The company, which provides applications for mobile phones, has been bought by the American firm in a bid to provide mobile services to people who use basic phones, said M&A deals.
It comes just one week after Facebook announced that it had taken on a former Google director of corporate development, to aid future mergers and acquisitions.
Also, it is not long since Facebook completed a takeover on US messaging business Beluga, the news provider said.
Speaking on the acquisition, Snaptu posted a blog which said: "Earlier this year, we announced the launch of a new Facebook mobile application to give people a great mobile experience on a broad range of feature phones. The Facebook for Feature Phones app currently works on more than 2,500 devices.
"We soon decided that working as part of the Facebook team offered the best opportunity to keep accelerating the pace of our product development."
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