June 26, 2018 | A senior executive from the mergers and acquisitions (M&A) team at Facebook is reportedly in Israel. There were conflicting reports on the timeline of the visit. Israeli financial daily Globes reported that the trip will take place “later this week,” while CTech by Calcalist said the executive had concluded the visit on Monday.
The executive is likely Amin Zoufonoun, vice president of corporate development, both news organizations said. According to the reports, Zoufonoun is responsible for Facebook’s prior acquisitions in Israel, including the purchase of mobile app platform Snaptu for $70 million in 2011, Tel Aviv facial recognition tech company Face.com for $100 million in 2012, motion sensor recognition company Pebbles for $60 million in 2015, and Israeli analytics company Onavo now known as Facebook Israel for $150 million in 2013.
Talks for the previous four Israeli acquisitions took at least several months with Zoufonoun visiting Israel and continuing the talks at Facebook headquarters in Menlo Park, California, Globes reported.
There was no immediate word on the purpose of the visit, or if an acquisition is in the works.