KUALA LUMPUR, Feb 22 – Social networking giant Facebook acquired Malaysian Internet start-up, Octazen, for an undisclosed sum last week.
According to tech website Gigaom, Facebook announced the acquisition in a statement sent via e-mail to reporters and described the buy as a “talent acquisition.”
Octazen makes software that helps Facebook grow its user base by encouraging existing members to invite their e-mail contacts.
“We’ve admired the engineering team’s efforts for some time now and this is part of our ongoing effort to add experienced, accomplished technical talent to help drive the company forward in its efforts to be the central way for people to connect and share information,” said Facebook spokeperson Larry Yu in the media statement.
Octazen’s website confirms it is being acquired but does not provide any contact information.
Many Silicon Valley start-ups are launched with an eye on being acquired by large internet companies but this could be the first acquisition of a Malaysian start-up by a bona fide internet giant.
According to website insidefacebook.com, Octazen will remain based in Malaysia, making the two people behind Octazen the first Facebook employees based in Asia full time.
However, Facebook says, “This won’t become an office… It’s just a talent acquisition and they’ll be considered remote workers since we’ve opted to let them remain in Malaysia.”
Facebook has over 400 million users including 250 million added last year, but has been quiet on the acquisition front, preferring to acquire talent rather than products. Octazen is only the third ever acquisition by the company.
The acquisition of Octazen comes as Facebook is fending off a challenge from Google with the launch of the latter’s Buzz social network.
@ Inside Facebook
Facebook Makes Small, Strategic Acquisition of Malaysia's Octazen
@ Gigaom
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@ GreyReview
Facebook Acquired A Malaysian Startup
Octazen is KL-based with an office in Taman Melawati. Address:
182, Jalan C3, Taman Melawati, 53000 Kuala Lumpur, Malaysia.
Finally, a screenshot of the website of the company that Facebook acquired - Octazen Solutions:
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