Tuesday, June 19, 2012

Facebook Scoops Up Face.com For $55-60M To Bolster Its Facial Recognition Tech (Updated)

Screen Shot 2012-06-18 at 9.51.11 AMAfter about a month of speculation, Facebook has finally announced its acquisition of Israeli facial recognition technology Face.com. We've heard from multiple sources that the acquisition price was around $100m, with others reporting that the price was between $80m-$100m. (Update: We're now hearing from a source familiar with the matter that the price was between $55 and $60 million, and that it was a mix of cash and stock. The exact value of the deal will be changing depending on the price of Facebook's stock.) This is absolutely not an acqui-hire, as Facebook will be taking full advantage of the company's technology and the advancements it's made on mobile -- perhaps to finally include mobile tagging options for photos.

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