For an estimated $80 million+



Yes, Facebook is continuing its recent buying spree with the acquisition of Face.com for an estimated $80 - $100 million.

Following the recent Facebook buying spree, the company has now purchased Face.com for an estimated $80 - $100 million.

And yes, they are after the company's heralded facial recognition IP.

The company's facial-recognition technology is already used to offer auto-tag suggestions when users upload photos to Facebook, and now the social network owns every bit of it.

In a statement to AllThingsD, Facebook said that "this transaction simply brings a world-class team and a long-time technology vendor in house."

It's believed that the move (in addition to its acquisition of Instragram for $1 billion in April) is Facebook's attempt to strengthen its mobile offerings.
According to a Face.com blog post, they make clear that third-parties currently using its API will continue to be supported.

Also, it looks like their "next steps are going to be exciting for all of us."

"By working with Facebook directly, and joining their team, we'll have more opportunities to build amazing products that will be employed by consumers - that's all we've ever wanted to do."
Expect to hear more about those plans soon.

NEWS SOURCE: Face.com acquired by Facebook for 80 million recognition (via) EnGadget

Our thanks to 'Gauss' for this news item!