Facebook and Face.com have finally made an official announcement regarding their much rumored acquisition deal after nearly a month of speculation. The two companies did not disclose the cost of the deal, but insider sources previously revealed that the deal should cost Facebook about $100 million.
Israel-based Face.com specializes in mobile face recognition technology, which could be integrated into Facebook in such a way so that users can easily upload and tag photos while on the go. This feature would certainly help boost Facebook's mobile offering, which the company is apparently hard at work to improve.
The recent Instagram purchase for $1 billion, shows the importance Facebook has placed on mobile photos. Face.com's mobile face recognition technology can be integrated to further enhance the photo sharing experience with Instagram on Facebook.
It's not clear whether Face.com would continue to operate and be maintained separately, although the company did post in its blog announcement today that it would continue support for its developer community.