Facebook To Snap Up Snaptu For Up To $70M

Law360, New York (March 21, 2011, 1:43 PM EDT) -- Facebook Inc. has reached an agreement to acquire Snaptu, the mobile device application developer announced Sunday, in a deal reportedly valued as high as $70 million.

In a statement posted on its company blog, Snaptu confirmed the deal, which comes on the heels the company’s release of a Facebook mobile application that allows access to the social networking website from almost any kind of mobile device.

“We soon decided that working as part of the Facebook team offered the best opportunity to keep accelerating the pace...
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