Facebook Buys Israeli Messaging Company Redkix

Facebook Buys Israeli Messaging Company Redkix

Israel's Redkix, whose product combines email and team messaging, said on Thursday it has agreed to be acquired by Facebook, where it will join the Workplace team to help companies collaborate.

Facebook launched Workplace, its subscription-based social platform for businesses, in 2016.

Redkix and Facebook did not disclose financial details. A source close to the transaction told Reuters the value of the deal was less than $100 million (roughly Rs. 685 crores).

More than 30,000 companies use Workplace by Facebook to collaborate with their colleagues and "get more work done", a Facebook spokesperson said.

"Bringing people closer together is at the core of Facebook," Redkix co-founders Oudi and Roy Antebi said in a blog on the company's website. "Workplace brings this mission to enterprises to make them more connected and productive."

Redkix, which has raised $20 million from investors including Salesforce Ventures, has offices in California and Tel Aviv.

© Thomson Reuters 2018

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