Facebook completes US$19b purchase of WhatsApp

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Facebook on Monday (Oct 6) completed its purchase of mobile messaging application WhatsApp, with the mostly stock deal tallying nearly US$22 billion.

Facebook, the world's biggest social network, announced the buyout of the WhatsApp messenger service in February.

US authorities approved the deal in April.

The buyout included 177 million Facebook shares, plus US$4.59 billion in cash. In addition, the social network agreed to provide 45.9 million restricted shares to WhatsApp employees.

The acquisition was given the colossal price tag of US$19 billion when the deal was struck in February, but a rise in Facebook shares has pushed the value even higher.

Terms of the deal include WhatsApp co-founder Jan Koum remaining head of the company and taking a seat on the Facebook board of directors.

Koum's salary will be one dollar a year, according to a filing on Monday with the US Securities and Exchange Commission. The symbolic annual pay mirrors that of Facebook chief Mark Zuckerberg.

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