Facebook WhatsApp Deal Sealed; Social Media Purchased Instant-Messaging App For $19 Billion

The much talked-about Facebook WhatsApp deal that has been going on for several months now has finally been sealed.

On Monday, the Facebook WhatsApp deal was finally closed to the sum of $19 billion. The deal will reportedly make the instant messaging app company a wholly owned subsidiary of the social networking company and the former's co-founder and CEO Jan Koum will become a member of the tech giant's board of directors.

News of the buy-out first came out on February 19. The deal was contested by U.S. Antitrust authorities but was later cleared.The intent was also largely opposed by Europe's telecom industry, but the recent approval of the regulators of the European Union paved the way for the merger.

In a statement, EU's antitrust chief Joaquin said: "We have carefully reviewed this proposed acquisition and come to the conclusion that it would not hamper competition in this dynamic and growing market."

"We are looking forward to connecting even more people around the world, and continuing to create value for the people who use WhatsApp," said Facebook about the merger in a statement.

While reports from the Wall Street Journal and TIME mentioned the deal's worth at $19 billion, Financial Times reported that it has now climbed to a total $21.8 billion "because Facebook's share price has risen more than 13 per cent since mid-February to $77.29 on Monday."

This was reported as the biggest merger in Facebook's history.

WhatsApp has more than 600 million subscribers per month and earns around $20 million per year, according to Forbes.

It appears, however, the Facebook WhatsApp deal is not the only partnership between a tech giant and an app company. According to reports, Yahoo is eyeing a Snapchat merger valued at $10 billion. Alibaba had invested $215 million in the messaging app Tango in March. And Japan's Rakuten acquired Viber in February for $900 million.