BREAKING NEWS

Facebook acquires Israeli start-up for estimated $100m.

By ROY GOLDENBERG/GLOBES

JUNE 18, 2012 22:45

Facebook Inc. announced Monday that it has acquired Tel-Aviv-based facial-recognition technology company Face.com. No financial details were disclosed but sources believe that the acquisition has been made for about $100 million.

Face.com, founded in 2007, has developed technology used for facial recognition on photos loaded onto websites and through mobile applications. The company has released two apps used on Facebook called Photo Finder and Photo Tagger.

In a brief statement, Facebook said the company’s technology “has helped to provide the best photo experience” for people sharing photos over the social network.

Facebook added, “This transaction simply brings a world-class team and a long-time technology vendor in house."

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