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NEWS: Facebook acquires WhatsApp for £11.4bn

Facebook has acquired instant messaging app WhatsApp in a deal worth £11.4 billion, with the aim of accelerating the social network's ability to bring connectivity and utility.

WhatsApp is one of the fastest growing mobile apps, with over 450 million users each month and 70 per cent active on a given day.

However, the mobile app will not be rebranded and continue to function independently. 

Mark Zuckerberg, Facebook founder and CEO, commented: "WhatsApp is on a path to connect one billion people. The services that reach that milestone are all incredibly valuable.

"I've known Jan for a long time and I'm excited to partner with him and his team to make the world more open and connected."

Meanwhile, Jan Koum, WhatsApp co-founder and CEO is set to join Facebook's board of directors. Commenting on the news Koum said: “WhatsApp's extremely high user engagement and rapid growth are driven by the simple, powerful and instantaneous messaging capabilities we provide. We're excited and honored to partner with Mark and Facebook as we continue to bring our product to more people around the world.”