Facebook Inc is paying $55 million to $60 million to buy Face.com, according to the reports. Acquiring the company that offers the facial-recognition technology used by the world’s major social network to assist users identify and tag photos.
The deal reinforces one of Facebook’s most popular features that sharing and handling of photos but the use of the startup’s technology has prompts concerns about user privacy.
Facebook will buy the technology and the employees of the 11-person Israeli company, according to the reports.
Facebook will pay cash and stock for Face.com, potentially paying so far as $60 million, the sources said. Neither Facebook nor Face.com disclosed the terms of the deal, which is expected to close in upcoming weeks.