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Acquisition of Finnish Mobile Data Firm Pryte by Facebook Inc

Date:04-06-2014

Facebook Inc is buying a Finnish company, Pryte that aims to make it easier for mobile phone users in under-developed parts of the world to use wireless Internet apps.

Facebook did not divulge financial terms of the deal which is expected to close later this month according to Facebook’s spokeswomen Vanessa Chan.

The Finnish company’s service which has not yet launched publicly, strives to make it easier for consumers who do not have wireless data plans to use online services by selling short-term passes that would provide access to particular mobile apps like Twitter or Facebook.

Chan said that the world’s largest social network, Facebook with more than 1.28 billion users is mainly interested in the team behind Pryte which is led by Markku Makelainen, chief executive of Pryte.

Pryte which is based in Helsinki is only a year old. The company has valuable relationships and experience working with wireless operators, mostly in emerging markets. Pryte hadn’t actually begun to launch its service across the globe and it has high hopes of changing the way mobile users receive data to access their application. Pryte is working alongside wireless operators to offer mobile data plans on a per apps basis, rather than purchasing data in bulk, something that customers in emerging countries tend to find too expensive.
 
Pryte stated that it was delighted over the acquisition. It also plans to work alongside with Facebook and its mission to bring people online in a profitable way.

This deal marks Facebook’s latest endeavor to advance its mission of connecting people in under-developed parts of the world to the Internet. In certain countries, the social networking giant has partnered with wireless operators to offer free access to its social network. The company is also building satellites and drones that will beam Internet access to remote regions of the world.

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