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June 4, 2014

Facebook buys mobile data service provider Pryte

The Finnish start-up provides for app-based data plans.

By CBR Staff Writer

Facebook has acquired Finnish start-up Pryte in an undisclosed deal, in yet another buy-out this year.

Pryte offers users an option to buy mobile data on a "need-to and per app basis", enabling operators to launch app-based data plans.

The Helsinki-based firm’s cloud-based service is yet to hit markets.

Pryte was founded in 2013 by a team of telecom and internet experts with the mission to let users "forget about mobile data and simply enjoy apps every day."

In April this year Facebook bought another Finnish company, app developer ProtoGeo, and in March it acquired virtual reality start up Oculus VR for $2bn.

The social network’s biggest acquisition of Whatsapp for $19bn was announced in February.

Facebook spent $22bn so far on acquisitions. Major purchases include Whatsapp, Oculus, and Instagram ($1bn).

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Pryte’s acquisition is expected to give a boost to Facebook CEO Mark Zuckerberg’s concept of internet.org.

Internet.org, a collaboration of technology companies, nonprofits, and local communities, intends to bring the internet to "the two thirds of the world’s population that doesn’t have it".

The mission of the initiative is to develop apps that are affordable and increase connectivity to remote areas of the world.

The Pryte team, in a statement yesterday said, "Since we launched Pryte we have worked to reimagine the way mobile data works in an app-driven world, by enabling partnerships between app and content providers, and mobile operators.

Now, we’re joining Facebook, whose mission to connect the world by partnering with operators to bring people online in a profitable way aligns closely with our team’s goals."

Photo courtesy of Master isolated images/ Freedigitalphotos.net

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