Facebook takes over Face.com for undisclosed amount


 
Facebook takes over Face.com for undisclosed amountWorld's largest social networking site, Facebook has acquired Face. com for an undisclosed amount of money.
Face. com offers technology used for face recognition in pictures on the internet. The website allows users not only to tag their friends but also find images on the internet through a by distinguishing facial features on social networks and photo-sharing sites.
Ashley Zandy, a Facebook spokeswoman said, "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. This transaction simply brings a world-class team and a longtime technology vendor in house."
Facebook is increasingly looking to attract developers to develop new serves on eth site since it went public recently. The social networking giant is also looking to boost its presence on the mobile platform. The company has agreed to purchase photo-sharing site Instagram, location-based application Glancee and social-gifting company Karma since April 2012.
Face. com maintains offices in San Francisco and Tel Aviv and is backed by Russia's leading search engine, Yandex NV and investing firm Rhodium
The shares of Facebook rose 4 .7 percent to $31.41 Monday after reports indicated that the company will acquire Face. com.

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