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Snaptu acquired by Facebook
Posted: 21-Mar-2011 [Source: MobileTechNews]

[Snaptu announces in a blog that Facebook is acquiring the company that has developed a Facebook mobile app that works on more than 2,500 devices.]

By Jean Whitinger -- Snaptu announces that it has agreed to be acquired by Facebook. The deal is expected to close within a few weeks. Various sources are targeting the value of the company between $40 million to $70 million. The company was founded in 2007 and is based in London with offices in Tel Aviv and Silicon Valley.

Earlier this year the company launched a Facebook mobile application for feature phones that currently works on more than 2,500 devices. The company blog states "joining Facebook means we can make an even bigger impact on the world."

Snaptu supports low-end, mass market, and high-end mobile devices and automatically supports new devices as they come to market. Their site also notes that highly targeted adverts can be inserted into applications on the fly.

The opportunity to make Facebook available to the vast majority of mobile handset owners who don't have smartphones, plus the opportunity to deliver mobile advertising using Snaptu applications, would appear to make acquisition of this company highly appealing to Facebook.

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