Facebook to buy WhatsApp for $16B

The mobile messaging app has 450M monthly users

Facebook has agreed to buy mobile messaging app WhatsApp for $16 billion in cash and stock, the social network said Wednesday.

Facebook plans to buy the company for $12 billion in Facebook shares and $4 billion in cash. WhatsApp will continue to operate "independently" and retain its brand, Facebook said.

WhatsApp has 450 million monthly users, and 70% of those people access the service daily, Facebook said.

"WhatsApp is on a path to connect 1 billion people. The services that reach that milestone are all incredibly valuable," Facebook CEO Mark Zuckerberg said in a statement.

James Niccolai covers data centers and general technology news for IDG News Service. Follow James on Twitter at @jniccolai. James's e-mail address is james_niccolai@idg.com

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