Facebook to buy WhatsApp for US$19bil (RM62.59bil) in deal shocker

SHOCKER: Facebook Inc has announced that it will purchase smartphone-messaging app company WhatsApp Inc for US$19bil in cash and stock.

Facebook Inc will buy fast-growing mobile-messaging startup WhatsApp for US$19bil (RM62.59bil) in cash and stock in a landmark deal that places the world's largest social network closer to the heart of mobile communications and may bring younger users into the fold. 

The transaction involves US$4bil (RM13.17bil) in cash, US$12bil (RM39.53bil) in stock and US$3bil (RM9.88bil) in restricted stock that vests over several years. The WhatsApp deal is worth more than Facebook raised in its own IPO and underscores the social network's determination to win the market for messaging.