Facebook on Monday acquired FACE.COM the company that provides the facial-recognition technology used by the world's largest social network to help users identify and tag photos. This software lets computers recognize people's faces in digital images.
People who use Facebook enjoy sharing photos and memories with their friends, and Face.com's technology has helped to provide the best photo experience.
It was not disclosed how much the leading social network paid for Face.com or what its plans are for the company, but according to some sources say the acquisation might have cost facebook between $50M to $60M which might have been paid with cash and stocks.
Facebook uses the technology to scan a user's newly uploaded photos, compares faces in the snapshots with previous pictures, then tries to match faces and suggest name tags. When a match is found, Facebook alerts the person uploading the photos and invites them to "tag," or identify, the person in the photo.
The deal is the latest in a string of acquisitions by Facebook in recent months, including the $1 billion acquisition of mobile photo-sharing service Instagram. U.S. antitrust regulators are undertaking an extended review of the Instagram deal, which Facebook expects to close by the end of the year.