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News/ Emerging Media

Facebook Buys Parse To Offer Mobile Development Tools As Its First Paid B2B Service

Facebook has just acquired Parse, marking its entry into a whole new business category: paid tools and services for developing mobile apps. The company is buying the mobile-backend-as-a-service startup (yes, the industry acronym is mBaaS) in a deal that we've heard is worth $85 million. Neither company is commenting on the size of the deal, except that Facebook said it's not "material."

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