Facebook is buying an Israeli startup that specializes in software that connects any type of mobile telephone to the leading online social network and other popular Internet destinations.Facebook on Monday confirmed that it is acquiring Snaptu with an eye toward extending its reach to the hundreds of millions of mobile phones that don’t feature the computer-like Internet capabilities of smartphones.The deal was expected to close in a few weeks. Financial details were not disclosed.Snaptu was founded in 2007 with the stated goal of making available on “feature phones” innovative services people access routinely on smartphones.Nearly 1.6 billion mobile phones were sold worldwide last year, with 296.6 million of those being sophisticated smartphones, according to figures released last month by industry tracker Gartner.In January, Facebook launched a new software application for feature phones that was co-developed with Snaptu.

We are a different class of college students every Spring. Together we explore what it means to do business in a "Web 2.0" world. Technology, new businesses, cutting-edge trends, we cover them all!

