Facebook completes acquisition of WhatsApp, purchase valued at $22B

WhatsApp logoFacebook has completed its acquisition of messaging service WhatsApp, days after the European Commission gave the all-clear to proceed. The purchase, originally valued at $19 billion when the process began ten months ago, has now concluded with the publication of an SEC filing, with the co-founder and chief executive of WhatsApp gaining a seat on the Facebook board.

The purchase price has gone up considerably since the initial acquisition announcement, mostly because of Facebook's stock value increasing over time. The original deal would have seen approximately $4 billion in cash and $12 billion in Facebook shares being used to buy the app, with an extra $3 billion in restricted stock units for the founders and employees, vesting after four years. According to the SEC filing, the final price turned out to be $4.59 billion in cash and 177.7 million shares of Class A common Facebook stock, along with 45.9 million in restricted stock units provided to WhatsApp employees, giving the purchase a total value of just under $22 billion.

Aside from the board seat, WhatsApp CEO Jan Koum gains an annual base salary of $1, with the filing noting he will not be eligible for a bonus under Facebook's bonus plan, along with an inducement grant of 24.85 million restricted stock units.

Source: Electronista

Tags: Facebook, social networks, WhatsApp

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