Facebook is bringing one of its long-term vendors, a facial-recognition technology company Face.com, in-house.
The Israeli company's technology helps people tag photos on the Web by figuring out who is in the pictures.
The deal bolsters one of Facebook's most popular features – the sharing and handling of photos – but the use of the startup's technology has spurred concerns about user privacy.
Zuckerberg: Facebook is bringing one of its long-term vendors, facial-recognition technology company Face.com, in-house
Media reports in past weeks have pegged the size of the transaction at between $80 million to $100 million, but two people familiar with the terms of the deal said the actual price was below the low-end of that range.
Other sources suggest the deal is closer to $60m.
Facebook, which will acquire the technology and the employees of the 11-person Israeli company, said in a prepared statement that the deal allows the company to bring a 'long-time technology vendor in house.'