Ricochet News

Facebook completes US$19 billion acquisition of Whatsapp

By Tai Chishakwe - Oct 7, 2014
Facebook completes US$19 billion acquisition of Whatsapp

Social networking giant Facebook reportedly completed its US$19 billion acquisition of the WhatsApp on Monday, according to the SEC filing. The Menlo Park California-based company announced the US$19 billion deal in February.

Facebook paid US$12 billion in shares and US$4 billion in cash. The deal also included an additional US$3 billion in Facebook stock for WhatsApp founders and employees.

But Facebook shares have increased in value since February, making the deal worth about US$21.8 billion.

On Friday, European Union regulators approved the merger.

US regulators also approved the acquisition in April, but warned Facebook that it had to abide by WhatsApp's stringent privacy practices.

WhatsApp said that the site does not insist on knowing users' names or email addresses, and does not know their home addresses, employers, birthdates or internet search histories.

The sale of the company to Facebook would not change that, the company said.

The company said it would work independently from Facebook, which is renowned for its appetite for as much user data as possible.