Facebook buys start-up

Facebook has paid about $US120 million for an Israeli start-up called Onavo that makes software and offers analytic services for smartphone applications. The big drawcard for Facebook is the company's pioneering data-compression technology that helps smartphones cut data consumption by as much as 80 per cent.

Facebook has paid about $US120 million for an Israeli start-up called Onavo that makes software and offers analytic services for smartphone applications. The big drawcard for Facebook is the company's pioneering data-compression technology that helps smartphones cut data consumption by as much as 80 per cent.

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