Facebook has a deal in place to acquire Snaptu, a company that creates Java-based apps for feature phones.

The London-based company was founded in 2007 and is already responsible for the feature-rich Facebook application for non-smartphones.

The acquisition, which is set to close within a few weeks, has reportedly netted that Snaptu founders $60-$70m.

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The deal means we're likely to see better Facebook applications with more functionality for feature, phones which don't have the benefit of super-sized screens or mega processing power.

Snaptu explained its position on its blog today: "We soon decided that working as part of the Facebook team offered the best opportunity to keep accelerating the pace of our product development. And joining Facebook means we can make an even bigger impact on the world."

Facebook, meanwhile, confirmed that it will be improving its feature phone offerings in a statement: "As part of Facebook, Snaptu's team and technology will enable us to deliver an even better mobile experience on feature phones more quickly."

What this acquisition will mean for Snaptu's other apps, including LinkedIn, Twitter and Picasa apps, is not yet clear.

From Snaptu via TechCrunch