Feature phone application (app) developer Snaptu has said social networking giant Facebook will acquire it for an undisclosed amount.
The deal will help customers to enjoy a better mobile experience on feature phones more quickly.
"The Snaptu team is excited to announce that we recently agreed to be acquired by Facebook," Snaptu said in its official blog.
Snaptu offers a service that makes social networks such as Facebook, Twitter and LinkedIn, among others, easily available on feature phones, which is used by most people globally.
The London-based four year old company, with offices in Tel Aviv and Silicon Valley said the deal is expected to close within a few weeks.
However, the company has not disclosed the financial terms of the deal but according to media reports it is valued between $40 million and $70 million.
Besides, Facebook roped in Snaptu earlier this year to create its feature phone app 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 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," Snaptu said.
Source: The Hindu news