Facebook Acquires Snaptu at $ 60 – $ 70 million

According to several Israeli business newspapers (TheMarker, Calcalist) Facebook has acquired Snaptu for an estimated $ 60 – $ 70 million, although some reports peg the price lower, at around $ 40 million.

Update: a Snaptu executive has confirmed the acquisition but declined to discuss the purchase price or other terms of the deal.

Update 2: and the confirmation is up on Snaptu’s blog. The acquisition is apparently expected to close within a few weeks:
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. And joining Facebook means we can make an even bigger impact on the world.

That what happens when you start and grow a good business - more details www.mannamart.com