Snaptu, the London based mobile apps company, announced today that it recently agreed to be acquired by Facebook. The goal of Snapto, when the company was founded in 2007, was to provide useful and innovative services to the 95 % of mobile users with low-cost feature phones.
The acquisition is expected to close within a few weeks. We don’t know the actual purchase price yet. But there are rumors that it will be between $40 – $70 million. On Snaptu’s blog the team stated: “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.”